Support Levels: XRP is testing a critical support zone around $2.00, which aligns with the 0.618 Fibonacci retracement level. A breach below this could target the $1.59 swing low, a key structural support .
Resistance Levels: Immediate resistance is observed between $2.30 and $2.34. A successful breakout above this range could pave the way toward $2.50 and potentially $3.00 .
Chart Patterns: A bullish falling wedge pattern is forming, suggesting a potential reversal. A breakout from this pattern could project a move toward $4.25 .
Market Sentiment:
The overall sentiment is currently bearish, with 67% of technical indicators signaling negative trends .
Despite short-term bearishness, some analysts foresee potential for XRP to reach higher price points, such as $8, by the end of 2025, contingent on broader market conditions and institutional adoption .
Conclusion:
XRP is at a pivotal juncture. Holding above the $2.00 support level is crucial for maintaining its bullish structure. A breakout above the $2.34 resistance could signal a shift toward a more positive trend. However, a drop below $1.59 may indicate further downside potential.
