XRP price has remained above a previous consolidation range for over half a year, confirming its recent growth momentum.
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Amid the market turbulence, the XRP has persistently ranged along $2. This price action becomes even more discouraging when compared to Bitcoin (BTC). For perspective, Bitcoin has continued to reach new all-time highs since April. In contrast, XRP has failed to even reclaim the $3.4 yearly peak from January 2025.
Despite this gloomy price action, XRP’s current position still represents a massive improvement from previous prices. Specifically, the $0.5 price level, which XRP battled for several years, appears to be gradually now morphing into oblivion.
XRP’s Rollercoaster Ride Around $0.5
Notably, XRP first touched the $0.5 price during the uptrend in December 2017. At the time, the level represented resistance and a new high for XRP. After XRP conquered $0.5 and soared to $3.8 by January 2018, the decline that followed pushed prices back to $0.5.
From March to June 2018, XRP leveraged $0.5 as support, often dropping to this level and then bouncing back. However, between July 2018 and June 2019, $0.5 flipped to resistance, with XRP repeatedly retesting the price level in order to break out of the prevalent bearish trend.
From July 2019, XRP slipped further below $0.5, even hitting as low as $0.11 by March 2020. Meanwhile, from November 2020, it started retesting $0.5 again, eventually breaking above it by April 2021 to reach the $1.96 peak at the time.
Following a correction from this peak, XRP again dropped toward $0.5 as support in June 2021 and then breached below the level by May 2022 amid the Terra collapse. A year later, XRP reclaimed $0.5 on the back of the July 2023 upsurge from Judge Torres’ ruling in the SEC vs. Ripple case.
XRP Appears to Have Now Decisively Transcended $0.5
Nonetheless, the run was unsustainable, and as XRP dropped in August 2023, it resumed its retest of $0.5 as support. This continued until November 2024, when XRP decisively broke above $0.5, conquering both the $1 and $2 psychological levels in the months that followed.
Now, despite the ongoing market uncertainty, XRP has stayed far above the $0.5 level for the longest period ever. Specifically, the last time XRP saw $0.5 was on Nov. 5, 2024. This indicates that it has not revisited the $0.5 mark for 226 days, a new milestone.
Most recently, XRP has been retesting $2, as the price mark repeatedly flips between resistance and support, with a previous report from @Lachakari_Crypto calling $2 the new $0.5 level. Notably, this is a bullish development for XRP, as it is a confirmationthat it has grown beyond its past levels.
As XRP now consolidates around $2, several analysts believe it is only a matter of time before it also transcends this region. For one, market analyst EGRAG believes a run toward the $20 range is imminent. Earlier this week, he predicted the XRP cycle top to be around $24. Interestingly, XRP critic Davinci Jeremie also sees XRP reaching $24.
DisClamier:
This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect @Lachakari_Crypto opinion. Readers are encouraged to do thorough research before making any investment decisions. @Lachakari_Crypto is not responsible for any financial losses.