As of June 5, 2025, XRP is trading around $2.19, navigating a critical juncture amid fluctuating market sentiment and technical indicators. Here's a detailed analysis of the current support and resistance levels:
Key Support Levels:
$2.00 – $2.15: This zone has emerged as a significant support area, with XRP maintaining footing above the $2.00 mark despite recent bearish momentum.
$1.76: A long-standing support level that has acted as a critical floor for nearly six months. A drop below this could signal a deeper correction.
Key Resistance Levels:
$2.30: The 21-day EMA sits at this level, serving as an important resistance point. A strong close above $2.30 could confirm a double bottom formation, potentially igniting a rally toward $3.00.
$2.50: A significant resistance aligned with the 50% Fibonacci retracement level. Failure to overcome this barrier could lead to further downside.
$2.65: An additional resistance level identified by analysts, with a breakout above this potentially paving the way toward the psychological barrier at $3.00.
Technical Outlook:
Descending Channel Formation: XRP's price action has formed a descending channel, reflecting persistent bearish momentum.
Symmetrical Triangle Pattern: Recent price action has carved out a symmetrical triangle structure on lower timeframes, showing consolidation between $2.22 support and $2.28 resistance.
Volume Indicators: A possible double bottom pattern formed as price rebounded to $2.208 on increasing volume, indicating that short-term accumulation may be underway.
Market Sentiment:
The general sentiment for XRP remains bearish, with 57% of technical indicators signaling bearish signals.