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XRP trades at $2.17 with a dip of 1.02% over the last 24 hours as of 7.40 PM on June 6, 2025.
A breakout above the $2.30 resistance could trigger a rally toward $3.00 or higher.
Institutional interest is rising, with XRP ETF applications and treasury allocations by firms like Webus and VivoPower.
XRP, the digital asset developed by Ripple Labs, is once again at a critical juncture as it battles to maintain support above the psychologically significant $2 mark. After a turbulent first half of 2025, investors are asking if XRP can hold $2, or if another drop is imminent.
XRP price has rebounded 7% to $2.20 after finding support at $2.07 as of June 6, 2025. This price action comes on the heels of a sharp 35% decline from its 2025 peak. It reflects the broader volatility in the digital asset market.
Technical analysis suggests that XRP is consolidating just above the $2.00 support zone. The $2.30 level is identified as a critical resistance. A sustained close above $2.30 on the 3-day chart will point towards potential upside.
If XRP price stays above the 21-day EMA, it would validate a bullish double bottom pattern. potentially setting the stage for a rally toward $3.00. However, if XRP fails to break through $2.30, the risk of a drop toward $1.76 remains.
The current technical indicators are mixed. The Chaikin Money Flow (CMF) is negative. The RSI has dropped to 39 (a bearish signal). Meanwhile, the MACD histogram remains in the red, all pointing to continued selling pressure.
The price is also struggling to regain momentum after breaking below its ascending channel pattern, with the Simple Moving Average (SMA) acting as resistance. The following XRP price chart as of 7.35 PM on June 6, 2025, shows a dip of 1.06%:
Despite the technical challenges, there are reasons for optimism. The market is closely watching for a decision on several spot XRP ETF applications. These include one from Franklin Templeton, which could significantly boost XRP’s liquidity and institutional appeal.
Ripple’s recent approval for its RLUSD stablecoin in Dubai will support long-term demand for XRP. On-chain data shows a recent dip in active addresses. However, open interest in XRP futures has increased month-on-month, suggesting growing market participation and underlying interest.
Institutional players such as Webus International Limited and VivoPower have announced plans to allocate significant funds to XRP as a treasury asset. Thus, adding a layer of support for the asset’s valuation.
Several analysts have weighed in on XRP’s current price action and its prospects for holding above $2. Sentiments are divided between caution and optimism as the token navigates a critical support zone.
Bullish Case: If XRP breaks through the $2.30 resistance, technical patterns such as the double bottom could propel it toward $3.00 in the near term. Some analysts see potential for XRP to reach much higher targets, even as high as $17 or $34 in extremely bullish scenarios.
Crypto analyst EWCycles notes, “The technical setup points to a long-term uptrend, especially if XRP maintains support above $2.” EWCycles explained, suggesting that holding this level could set the stage for a powerful Elliott Wave rally toward $12 between 2025 and 2026.
Bearish Case: Failure to hold the $2.00 support could see XRP revisiting lower levels, with $1.76 identified as a key downside target. The bearish divergence in technical indicators and a recent drop in active addresses could signal weakening demand in the short term.
A technical team at FingerLakes1.com added, “XRP is currently facing resistance around the $2.25 mark. A decisive move above this level could signal a bullish trend, potentially targeting the $2.50 to $3.00 range. Conversely, failure to break this resistance may lead to a retest of the $2.00 support level”.
The next few weeks will be crucial for XRP, with traders watching the $2.00 support and $2.30 resistance levels closely. ETF decisions, institutional flows, and macro sentiment will likely dictate whether XRP can mount a sustained rally or face another leg down.
For now, XRP remains at a crossroads. its resilience at $2 will be a key test of both investor confidence and the broader crypto market’s appetite for risk in the months ahead.
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