XRP Price Holds Firm, Poised for Breakout — What’s Next for XRP?

XRP was held back by years of legal battles and broader crypto market volatility. However, XRP seems to be on a path of growth, thanks to several blockades clearing out. The very long legal duel between XRP and the SEC(Securities and Exchange Commission) has already come to an end, and it alone has boosted XRP’s and Ripple’s credibility among institutional investors.

While the past performance is no guarantee of where the future is headed, technical strength, strong fundamentals, expanding adoption, and institutional investments all suggest that XRP is on a steady path of growth.

Technical Aspects Of Price Growth

It appears that XRP is soon going to have a strong support level at $2.15 mark as it has crossed the said level and is on a bullish path. With the prices consolidating, XRP’s next aim is set at $2.250, crossing which can cause an explosive surge in the XRP price.

As the price is currently trading above the 100-hourly SMA(Simple Moving Average), a bullish trend line is forming with support at the $2.170 mark. This trend is marked on the XRP/USD hourly chart.

XRP has already beaten both Bitcoin and Ethereum in terms of growth as it surges past the $2.050 and $2.080 mark. With this steadily paced growth, XRP was indeed poised for a rally above the $2.15 mark, and it has achieved it too.

The bull market makers were able to push the price to a new high of $2.286 after XRP crossed the significant barrier the $2.20 mark posed. However, post this rally, the market has now entered a correction phase, it seems.

In case of a fresh upward move, the price is sure to face strong resistance from the $2.250 mark. However, there is a bigger resistance point posed at the $2.280 level. Crossing this level means that XRP can rally towards the $2.320 mark and test the market price there. The next major resistance is posed at the $2.420 mark. However, to reach and test this resistance, XRP first has to cross the $2.320 resistance point.

Is There A Hidden Chance For A Price Drop?

Since the bull rally was mostly contributed by the derivatives market, there is a price disconnect between the spot organic market and the derivatives market. This could make XRP weak to cross the initial stages of resistance. It is here where the price drop could begin.

The failure to clear the $2.250 resistance price may be the start of a new decline in XRP’s price. In case of such a drawdown, the initial support, as we mentioned earlier, is located at the $2.170 mark. This is a significant support level, as breaking it can seriously pull down XRP’s price amidst all the potential predictions of a continuous bull rally.

Breaking the $2.170 mark and the trend line could be disastrous for XRP, as the next major support level is located at the $2.120 mark. In case of a further drawdown and daily close below this key support level, the price may fall to as much as the $2.050 mark.

The next major support is located at the $2.00 zone, breaking which may make the prices go further down to the price mark of $1.9250

What Is Next For XRP Price?

The expanding utility, mixed with regulatory clarity, can become the defining factor for the current market environment for XRP. XRP is in a strong position to attract more institutional capital and increase its liquidity, and kill the volatile swings.

For the time being, analysts are on the lookout as to whether XRP can hold on to the bull run. If XRP can maintain the buying pressure, there are forecasts that predict XRP prices to close at $2.65 to $3.00 by the end of 2025.

Conclusion

With potentially high optimistic forecasts pushing the price towards $5.00, XRP could be showcasing a strong bull rally. However, investors need to keep a keen eye on the market fundamentals as well as the macroeconomic developments.

While the timing and the strength of any bull run are uncertain, XRP’s fundamental and technical landscape seems to be bullish in nature. This suggests that XRP could be on the road towards major growth.

Also Read: XRP News Today: XRP Surges Over 7% in 24 Hours as Bull Rally Strengthens