A daily surge of 2.61% has pushed XRP to present levels within $2.12. This price movement defines the current level as a turning point where the bulls and the bears will strategize on whether the level could provide further upside or a possible downside risk.
XRP's current price behavior is characterized by a squeeze on the Bollinger Bands, a pattern that usually precedes some volatility. The squeeze indicates that there was a period of consolidation that would soon be followed by a breakout or breakdown.
From the daily perspective, XRP is touching the midline of the Bollinger while also facing resistance from the upper band at $2.23. As the MACD begins to curve up, a bullish momentum will be possible.
The ascending triangle formation, which is a bullish pattern, is observed in the 4-hour chart, which upon confirmation could send XRP into the $2.40 level.
There are fundamental factors influencing XRP's price journey:
Ripple Has Joined Hands with Hidden Road: Ripple has confirmed that the XRP Ledger will power the post-trade infrastructure for Hidden Road's prime brokerage services, thereby increasing XRP's utility in institutional finance.
XploraDEX Launch: The launch of XploraDEX, XRP's first AI-Powered Decentralized Exchange, is being hotly anticipated by the community, potentially resulting in increased demand for XRP.
Macroeconomic Factors: The politically influenced discussions have led to adversity for the USD, which helps crypto assets such as XRP.
The slow short-term outlook of XRP is raising divergent opinions among analysts.
Bullish Scenario: A decisive close above $2.22 will loosen the rally to $2.40, and higher at $2.46, through further price targets.
Bearish Scenario: A break below $2.00 could open the downside to $1.85 and then take aim for $1.40 should momentum pick up considerably.
In the long run, given the prevailing market situation and regulatory provisions, some even posit XRP at about $11 by late 2025 or 2026.
At $2.12, XRP is now standing at a very important floor with indications from technical and fundamental developments pointing out the potential for strong price movements. This is a point in time where investors and traders are keen to watch out for key resistance levels and support levels along with the upcoming developments that could dictate the next major movement in XRP's price direction.