Current price: around $2.33.
Overall trend: Technical indicators show that XRP is trading within a short-term downward channel, with buyer pressure that may push the price up towards $2.95. However, breaking support at $2.10 could lead to further declines towards $2.00.
Key resistances:
$2.35: Light resistance.
$2.44: Medium resistance.
$2.55 – $2.62: Strong resistance area.
Key supports:
$2.10 – $2.15: Strong support.
$2.30: Average support.
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🧠 Expert opinions and future predictions.
Ascending triangle pattern: Some analysts indicate the formation of a technical pattern known as the 'ascending triangle', which could push the price towards $18 in the event of a bullish breakout.
Conservative forecasts: Some experts expect the price of XRP to reach $8 – $10 by the end of 2025, based on the potential launch of exchange-traded funds (ETFs) and a reduction in the currency's supply.
Optimistic forecasts: Other analysts believe that the market cap of XRP could reach $1.5 trillion, which could drive the price to much higher levels.
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⚠️ Influential factors to watch.
The case with the U.S. Securities and Exchange Commission (SEC): Any developments in this case could significantly impact the price of XRP.
Institutional adoption: Increased use of XRP in cross-border transactions may enhance demand.
Launch of Exchange-Traded Funds (ETFs): Approval of ETFs for XRP could attract significant institutional investment.
Technical analysis: Monitoring support and resistance levels helps identify suitable entry and exit points.