Will the price of Ripple (XRP) explode this week?
While volatility persists in crypto markets, Ripple (XRP) is distinguished by intriguing technical dynamics. Between dynamic support and bullish reversal signals, what scenario is looming for XRP?
Ripple (XRP) clings to its upward trend
On the daily chart, Ripple (XRP) is currently consolidating in a solid configuration, preserving intact the upward trend that began in 2024. The upward trend line and the 50-day exponential moving average play a key support role, boosting traders" confidence in the medium term.
Key levels to follow include immediate support at $2.30, the congestion zone around $2.50, and major resistance at $2.70. The latter threshold could generate an impulsive upward movement in the event of a crossing.
A graph of XRP
Source: TradingView
Aggregated liquidity data via heatmap suggest a high concentration of liquidity above current levels. This could produce a "short squeeze" if XRP manages to cross the $2.70 mark, with short sellers likely to have to cover their positions quickly, amplifying the rise.
In addition, many long positions have already been liquidated, while short positions have accumulated, which accentuates the potential for reversal
Bullish scenario:
Break above $2.70
Short-term objective: $3.00
Possible extension to $3.20, profit-taking area
Bearish scenario:
Breakdown of the uptrend line and loss of support at $2.30
Short-term goal: return to $2.10 or even $1.95, EMA 200 as the ultimate support
A decline below the daily EMA 50 could also send a signal of weakness in the medium term.
As often in the crypto market, Ripple (XRP) remains sensitive to Bitcoin (BTC) background movements. A resurgence of optimism around BTC could therefore drag altcoins in its wake and strengthen the strength of a possible breakout of XRP.
