XRP is consolidating between $2.00–$2.30, with a breakout above $2.30 eyed for upward momentum.
Analysts highlight a wedge pattern and strong 9 SMA as indicators of potential bullish movement.
Legal progress in the Ripple-SEC case may boost market sentiment and support a rally above $2.30.
XRP continues to consolidate between $2.00 and $2.30, forming a technical structure that may lead to a breakout. Traders are closely monitoring this range, as a successful push above $2.30 could initiate a price rally toward higher targets, including $2.99, $3.40, and $3.79. Current support stands around $2.00, keeping buyers active in this zone.
Price Structure Signals Potential Upward Move
XRP is trading at $2.16, maintaining stability within a broad consolidation channel. The price has held above the $2.00 support level for several weeks. According to analysis prepared by TradingView analyst EtherNasyonaL, the structure resembles a wedge pattern, which is often a precursor to sharp directional moves.
Volume activity remains steady, though a breakout will likely require an increase in buying pressure. The 9-period Simple Moving Average on the monthly chart has also been holding firm. This has been interpreted as a sign of strength by market observers tracking long-term price trends.
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A move beyond the $2.30 resistance level is being seen as the confirmation level for any upcoming rally. Should bulls manage to break and hold above this level, momentum may quickly drive XRP towards $2.99 and above, based on previous resistance zones.
Legal Developments and Market Sentiment
Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission remains a focal point for XRP traders. According to an observation by InvestWithD on X, a joint motion was recently refiled, which could conclude the long-running lawsuit.
Market participants are watching this closely, as legal clarity may boost investor confidence. On the psychological side, many traders remain cautious but optimistic. The price holding above its June lows has given some confidence to bulls.
As stated by Crypto analyst Egrag Crypto, the 9 SMA remains strong, signaling that the price structure has not weakened despite broader market fluctuations. If the breakout above $2.30 occurs with strong volume, XRP may be positioned for a continuation move targeting $2.99, $3.40, and $3.79, while $2.00 remains the nearest key support.
The post XRP Holds Strong Above $2.00 as Analysts Say “$2.30 is the Spark Level” for Major Rally appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
