When Will XRP Climb Above $3?

By: bitcoin ethereum news|2025/05/08 12:45:01
0
Share
copy
XRP continues to trade in a sideways pattern with no major changes in its price trend. On the larger time frame, the price is holding above the important support level of $2, but momentum remains weak. The market appears to be in a holding phase, with limited direction in recent days. Experts are watching XRP’s price pattern and believe it’s still going through a correction. At first, it looked like a triangle shape, but now it seems to be forming a more typical pullback pattern called an ABC correction, which could take more time to finish. Important Support and Resistance Levels In the shorter time frame, there’s some speculation that a low may have formed on April 7, but there is not yet enough evidence to confirm this. The recent move up is unclear and could simply be part of a temporary correction within a larger downtrend. Support between $1.74 and $2.30 is being watched. As long as the price stays above $1.74, the potential for a bullish reversal remains. However, traders are looking for a strong move above $2.25 to confirm a new upward trend. This would signal the start of a C-wave rally, possibly leading to higher highs. Until then, the market remains uncertain. XRP briefly broke below a previous support level but has started to recover. While it’s possible that a bottom is in, there is still a chance the price could fall again before turning higher, with $2.30 seen as the next support if that happens. The long-term forecast still includes a possible rally, with targets between $5.00 and $6.60, but these will only come into focus once a clear bottom is confirmed and the market shows strong upward momentum. Source: https://coinpedia.org/news/ripple-price-prediction-when-will-xrp-climb-above-3/

You may also like

Morning Report | Kraken freezes IPO plans due to difficult market conditions; Polymarket acquires DeFi infrastructure Brahma; World launches AgentKit integrated with Coinbase

Overview of Important Market Events on March 18

Bitmain, mired in controversy, has found its strongest backing in the United States

Bitmain has been mired in controversies over the safety of its mining machines for years, but this has not stopped it from engaging in business cooperation with key members of the U.S. presidential family.

Full text of the Federal Reserve's decision: Maintain interest rates unchanged and expect one rate cut within the year, with Governor Mulan casting a dissenting vote

The Federal Reserve has again kept interest rates unchanged, stating that the situation in the Middle East has an uncertain impact for now. Governor Milan believes that interest rates should be cut by 25 basis points. The dot plot still indicates an expected rate cut once this year.

Guarding billions in assets, yet unable to sustain itself: Tally bids a dignified farewell after five years

Tally chooses to take proactive stop-loss measures instead of stubbornly selling tokens and making promises that cannot be fulfilled.

SEC’s Stance on Crypto Assets: Most Not Considered Securities

Key Takeaways: The SEC’s new interpretation categorizes most crypto assets as non-securities under federal law. This move aims…

South Korea’s New Crypto Seizure Guidelines After Asset Mismanagement Incidents

Key Takeaways: South Korea’s National Police Agency (KNPA) has drafted guidelines for crypto seizure, with a focus on…

Popular coins

Latest Crypto News

Read more