XRP is currently showing signs of a potential trend reversal, though a larger bearish divergence continues to weigh on its price. Over the past 24 hours, XRP briefly dipped below the critical $2.25-$2.30 support range. However, as of now, the digital asset has yet to confirm a daily close beneath this level, providing a glimmer of hope for bullish investors.
Bearish Divergence Still in Play
While the recent bounce offers optimism, traders must remain cautious. On higher time frames, XRP’s price action still reflects an overarching bearish trend. The market remains under pressure, and the possibility of further downside looms if the bearish divergence plays out fully.
Crucial Support and Resistance Levels
XRP is currently testing resistance between $2.30 and $2.46—a critical pivot zone. A successful break above this range could signal the start of a new bullish phase, while failure to breach this resistance may indicate further downside risk.
On the downside, the immediate support level to watch is at $1.95. If the price falls below this threshold, XRP may face further corrections. However, if this support holds, there is potential for a bullish rebound. Should a deeper decline occur, the next major support level sits at the February low of $1.77, which could serve as a strong defense for buyers.
Bullish Breakout Scenario and Price Targets
A breakout above $2.46 could pave the way for a significant upward move. If bullish momentum sustains, XRP may surge toward the $5-$6 range, presenting an attractive risk-to-reward ratio for investors.
Additionally, if XRP manages to surpass the $2.83 resistance level, confidence in a strong uptrend would grow, signaling the invalidation of the bearish scenario. This move could indicate that a five-wave bullish pattern is forming, reinforcing the possibility of a longer-term price surge.
Also Read: XRP Price Breakdown: 30% Drop to $1.50 Looms as Open Interest Hits 8-Week Low
XRP remains at a critical juncture, with the market closely watching key resistance and support levels. While bullish momentum is building, the larger bearish trend has not been fully invalidated. Traders should monitor price action carefully as XRP approaches pivotal thresholds that could determine its next major move.
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.
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