|
Getting your Trinity Audio player ready...
|
- XRP trades at $2.73 after five consecutive intraday losses.
- Analysts see consolidation as a precursor to a potential rally toward $7 and $27.
- Technical indicators suggest a possible bottom and strong rebound ahead.
Stay ahead with real-time updates and insights—Join our Telegram channel!
XRP has experienced a rare slump, recording five consecutive intraday losses for the first time since June. Currently trading at $2.73, the cryptocurrency has broken key psychological and technical levels, including $3, $2.9, and $2.8. This marks a significant pullback amid a broader market downturn. However, market analysts remain cautiously optimistic about XRP’s future trajectory.
XRP Trading Within a Decade-Long Channel
According to EGRAG Crypto, XRP is still trading within a long-standing consolidation channel that has shaped its price action for over a decade. This channel, marked by blue and white sections on the chart, previously restricted XRP’s upward momentum after the Terra collapse in May 2022, when prices briefly dipped to the $0.5 range. Following a breakout in November 2024, XRP surged to a peak of $3.4 in January 2025 before retreating to lower levels. Despite the recent drawdown, analysts suggest this consolidation phase could set the stage for a significant rally.
Consolidation May Precede a Massive Uptrend
EGRAG’s updated chart analysis indicates that XRP could soon break free from its current consolidation, triggering a strong bullish run. The first key breakout target aligns with the previous peak at $3.6. From there, XRP could potentially climb to $7, representing a 157% increase from current levels. Long-term projections are even more ambitious, with Fibonacci extension targets placing XRP at $27—a figure echoed in prior analyses.
Technical Indicators Point to a Potential Bottom
Supporting this bullish outlook, CryptoInsightUK highlights XRP’s pairing with Bitcoin, which has recently pulled back to a critical support zone on the 4-hour chart. RSI readings indicate oversold conditions, suggesting that a rebound may be imminent. While not guaranteed, this technical setup has historically coincided with strong recoveries, particularly when combined with favorable liquidity conditions against the U.S. dollar.
Also Read: XRP ETFs Could Smash Records With $5B Inflows—Bigger Than Bitcoin and Ethereum
Despite five straight losing days, XRP may be poised for a substantial rally. Consolidation within long-term trend channels and key technical setups suggest that the cryptocurrency could rebound toward new all-time highs. For investors, the current dip might represent a critical buying opportunity before XRP targets $7 and potentially $27 in a longer-term bullish scenario.
Stay ahead with real-time updates and insights—Join our Telegram channel!
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
