XRP price prediction: Can XRP break resistance or fall to new lows?
XRP hovers near support as bearish pressure persists
XRP is currently consolidating after a sharp decline, attempting to build a base around the $2.20 - $2.23 support zone. The broader market remains cautious, and XRP has yet to reclaim key resistance levels that could signal a bullish reversal.
The descending wedge pattern on the daily chart suggests a potential breakout if momentum shifts in favor of buyers. However, XRP faces strong resistance at $2.98 - $3.00, which has historically acted as a major rejection point.
The immediate support lies at $1.94 - $2.00, and a failure to maintain this level could push the price lower toward $1.80. Conversely, if XRP can break above $2.30, it may trigger a relief rally toward $2.50 - $2.60.
XRP price analysis (Jan 2025 - Feb 2025) Source: TradingView.
Technical indicators show mixed signals
The 4-hour chart reveals continued selling pressure, with multiple failed attempts to clear $2.27 - $2.30. XRP is currently testing the lower boundary of a key demand zone. A breakout above this region would indicate a potential trend reversal, but without strong buying volume, further downside remains possible.
XRP is trading below all major moving averages, reinforcing bearish sentiment. The 20 EMA is at $2.41, 50 EMA at $2.50, 100 EMA at $2.57, and 200 EMA at $2.57. To regain bullish momentum, XRP must reclaim $2.50, which would confirm a shift in trend.
The Relative Strength Index (RSI) stands at 37.02, indicating oversold conditions. If RSI drops below 30, it could signal a short-term bounce, but for now, sellers remain in control. The Bollinger Bands also suggest oversold conditions, with XRP trading near the lower band. Meanwhile, the MACD indicator remains bearish, though a potential crossover could hint at a reversal in the coming sessions.
Key levels to watch
If XRP fails to break above $2.30, bearish momentum could intensify, leading to a retest of the $2.00 - $2.10 support zone. A break above $2.50 would confirm bullish strength, setting the stage for targets at $2.75 - $3.00.
For traders, short-term bounce plays could be considered near $2.20 - $2.23, with profit targets at $2.40. Meanwhile, breakout traders should wait for confirmation above $2.50 before entering long positions. A stop-loss below $2.00 is advisable to manage risk.
Outlook: XRP remains in a bearish phase
While RSI and Bollinger Bands suggest a possible bounce, the overall trend remains bearish until XRP breaks above $2.50. Holding above $2.20 is crucial for price stability, and a bullish breakout will require a clear move above resistance levels. Traders should remain cautious and watch for confirmation before committing to any directional bias.
As previously discussed XRP remains under pressure, struggling to break resistance levels amid weak market sentiment.
