June 12 XRP Price Prediction: Analysis of the Trend Under Bull-Bear Struggle

Currently, the XRP price shows signs of a bullish recovery, attracting close attention from analysts, and its price trend is expected to usher in breakthrough progress. Since reaching a low around April 7, XRP has gradually entered a correction phase, and recent dynamics suggest that a rebound may be imminent.

1. Current Market Structure Interpretation From the daily chart analysis, XRP is holding above the key support level of $2.05 to $2.10, while facing resistance in the range of $2.35 to $2.36. Once decisively breaking through the $2.35 resistance level, it is expected to quickly surpass $2.44 in the short term, even aiming for a higher target of $2.60. Currently, a bullish W-shaped double bottom pattern seems to be forming, and if it successfully breaks through the resistance level, it will add strong support to the upward trend.

2. Elliott Wave Structure Indicates Rebound Potential Analysts point out that since the January peak, XRP has undergone a WXY corrective trend and may have bottomed out on April 7. Since that low point, it has completed a five-wave upward movement, followed by a three-wave corrective pullback. This classic pattern indicates the possibility of forming a larger-scale bullish structure subsequently. The current price trend shows that a new round of five-wave upward movement may have already started. The current support levels are at $2.22, $2.15, and $2.11. If it falls below $2.11, the short-term bullish logic will be weakened, and the market focus will shift to the next key support level around $1.95.

3. Financing Rate Hides Downward Risk Although the price is maintained above the support level, the cost of holding long positions for traders—the financing rate—is quietly climbing. The current financing rate is 0.01% every 8 hours, and if it rises to 0.02% or higher without a corresponding price increase, the price is likely to drop. If XRP falls below $2.25, it could significantly drop to $2.01, $1.90, or even $1.55.

In summary, although XRP's price shows a bullish trend, the battle between bulls and bears is intense. Investors need to closely monitor the breakthrough of key support and resistance levels, the evolution of the Elliott Wave pattern, and changes in financing rates to make cautious investment decisions. #xrp #Xrp🔥🔥