The post XRP Price Won’t Dip Below $2, Here’s Why appeared first on Coinpedia Fintech News
Crypto prices are down today due to the rising tensions in the Middle East. XRP fell to $2.16, while Cardano (ADA) and Solana (SOL) dropped over 1%. Ethereum (ETH) also dipped 0.7%, giving up its recent gains.
XRP is trading around $2.159, down 0.3% today, after failing to hold above the $2.30 resistance zone. After a rally to $2.35, sellers regained control, and pushing the price back toward $2.11.
Earlier, XRP had surged above $2.40, exciting traders and fueling hopes of a breakout. But the rally didn’t last. The price fell back near $2.15, turning what looked like a bullish breakout into a fakeout. The brief spike was driven by whale activity, hopes of an SEC settlement, and strong sentiment, but the momentum faded soon.
XRP Stuck in a Tight Range, Will It Revisit Lower Levels?
Now, XRP is stuck in a narrow range between $2.00 and $2.50. Analysts say a breakout above $2.50 could target $3.50, but if the price drops, it could fall to $1.85 or even lower. Technical indicators like MACD are showing selling pressure. XRP is forming a symmetrical triangle, which often precedes a major move, up or down.
To regain momentum, XRP must reclaim $2.206 and break through resistance around $2.18–$2.21. A successful push above $2.236 could open the way to $2.35 and beyond. But if it slips below $2.113, XRP could revisit support levels at $2.02, $1.92, and even $1.83.
Over the past month, XRP has traded between $2.05 and $2.40. Several analysts say the current setup resembles the 2017 price action, which led to a massive breakout to all-time highs.
XRP’s 2017 Setup Repeating?
XRP has been consolidating between $1.90 and $2.90 for nearly 200 days. Analysts like see similarities to the 2017 triangle pattern that led to a 1,300% rally. With an even longer consolidation this time, a similar rally from the $0.63 breakout zone could push XRP to $8–$10.
Analyst Dark Defender believes XRP is nearing a crucial breakout point. Patterns like the cup formation, trendline squeezes, and Fibonacci levels are aligning. Tightening moving averages also suggest a big move is coming. His short-term targets are $2.22 and $3.61, with support at $2.07.