XRP holds above $2.08 support as MACD and RSI signal a potential bullish continuation.
Price approaches $2.30 resistance; a breakout could lead to retests of $2.50 and $2.65.
Analysts eye historical Fibonacci targets between $8.40 and $27 if current rally confirms.
XRP is currently trading at $2.18 after bouncing from $2.07 following a broader crypto market pullback on Thursday. Analysts observe that the ongoing retest phase could be ending, and a new rally may be forming as multiple indicators align across different timeframes.
XRP Holds Above Key Support as Bulls Eye $2.50
XRP price is holding firm above the 200-day Exponential Moving Average (EMA) at $2.08. The asset has shown resilience despite a broader market correction and is now trading above a key support zone at $2.15–$2.18. This level also served as a strong accumulation area, confirmed by increased buying volume.
https://twitter.com/CW8900/status/1931193423152947466
The latest rally from $2.07 to $2.20 followed aggressive dip-buying. The Relative Strength Index (RSI) is moving toward the midline, which often supports upward momentum. Meanwhile, the Bollinger Bands are tightening on the 3-day chart, with crypto trader Steph Is Crypto noting the formation may indicate a large move soon.
The MACD is also nearing a bullish crossover on both the 4-hour and daily timeframes. When the MACD line crosses above the signal line, this often confirms a shift toward positive momentum. Traders now watch for a clean break above $2.30 to validate the rally continuation.
Chart Structures and Historical Comparisons Signal Breakout Potential
XRP is trading inside a symmetrical triangle and approaching key resistance at $2.40. If the pattern resolves to the upside, analysts expect a retest of $2.65, which previously acted as a local high.
Crypto analyst Dark Defender mentioned on X that XRP is forming a new Elliott Wave structure, supporting the move to $2.50 and beyond. According to an analysis prepared by Egrag Crypto, the next levels to watch are $2.30, $2.35, and $2.45.
A close above $2.65 is seen as a strong breakout signal. Analysts also point to historical Fibonacci cycles, with targets ranging between $8.40 and $27 during this cycle.
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