The price of XRP is currently in a consolidation phase following its recent recovery. Analyst Crypto Patel believes a bullish scenario is imminent if the price stays above the $2 support.
According to the analyst, the main obstacle to reaching higher goals is the resistance at the level of 2.90. A successful breakout above this point could pave the way for a strong rise, with a potential of approximately 228%, placing the next target around 10 dollars.
However, in the event of a breakout below support, the lower range around $2 will be at risk. Overall, the analyst maintains a long-term bullish price prediction for XRP, as current levels remain intact.
On the daily chart, the price of XRP has remained strong above the $2.80 support. Currently, the price is around $2.97 with signs of renewed strength. The previous breakout generated a 62% upward trend, confirming the impact of repetitive patterns.
The current projection indicates a possible advance of 95%, placing the short-term target near $5.50 if resistance levels are surpassed. The indicators reinforce this outlook, with the Money Flow Index near 25, suggesting oversold conditions.
On the other hand, the Global Liquidity Index M2 also shows an upward trend. This indicator has historically correlated with the strongest rallies of XRP. Meanwhile, a breakout above the $3.20-$3.30 zone could accelerate gains towards the $5-$6 range.
Support at $2.80 and $2.20 constitutes the immediate safety net. This limits deeper losses. Therefore, the combination of pattern repetition and increased liquidity supports a compelling bullish outlook in the short term.
The price of XRP shows resilience above critical support levels, while Ripple's adoption of RLUSD reinforces bullish forecasts. If a breakout occurs above the $3.20 level, targets around $5.50 or higher could be reached. Therefore, XRP's trajectory towards a 200% increase is becoming increasingly relevant.
