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The price of XRP is currently trading around $2.36 and remains in a neutral zone without a clear direction. Let’s take a closer look at the latest price analysis and what could happen next.
XRP Price Analysis: Key Levels to Watch
On the daily chart, XRP recently fell below an important support line around $2.44, which is a short-term bearish sign. Right now, the price is finding some support near $2.30.
If XRP breaks below $2.30, the next support level to watch would be between $2.10 and $2.15.
On the other hand, resistance is now sitting between $2.43 and $2.44. If the price manages to move up, another major resistance lies at $2.60.
Fibonacci Levels Show Strong Resistance Ahead
Looking at the Fibonacci retracement tool, a key resistance zone known as the golden pocket sits between $2.55 and $2.62.
If XRP breaks above $2.62 with strong confirmation (meaning daily candle closes above this level), it could trigger a bullish rally towards $2.90.
Is There a Bullish Pattern Forming?
There’s a chance XRP might form a large inverse head and shoulders pattern, a bullish chart formation. However, this isn’t confirmed yet.
For this pattern to complete:
XRP would need to drop further towards $2.10-$2.15
Then bounce back up towards $2.60
And finally break above $2.60 with confirmation
If this happens, it could set XRP up for a strong rally, possibly pushing the price above $3 and towards new all-time highs.