XRP Price Outlook: Is Ripple’s Rollercoaster Nearing a Plunge or Poised for a Rebound?
The post XRP Price Outlook: Is Ripple’s Rollercoaster Nearing a Plunge or Poised for a Rebound? appeared on BitcoinEthereumNews.com.
Ripple’s XRP is once again at a critical juncture, navigating a turbulent market filled with both uncertainty and potential. As the token struggles to maintain key support levels, analysts remain divided on whether a rebound is imminent or if further declines are on the horizon. With technical indicators flashing mixed signals and external factors influencing investor sentiment, traders are bracing for the next major move in XRP’s price trajectory. XRP Faces Bearish Pressure Amid Market Volatility XRP has experienced a sharp decline over the past week, dropping nearly 15% as broader crypto market weakness exerted downward pressure. The token fell toward the $2.00 mark, a significant psychological level after being rejected at higher resistance points. According to analysts, XRP must break above $2.22 and hold it as support to regain bullish momentum. Otherwise, the risk of further declines remains high. Ripple (XRP) is waiting for a breakout in either direction as the price holds between the $2.50 critical resistance and $2 support. Source: MasNora on TradingView Technical analysis points to key resistance at $2.25 and $2.325. If XRP fails to breach these levels, it could retreat toward $2.00 or lower. “The price action is currently dictated by resistance at $2.25. A breakout above this level could shift momentum, but failure to do so may result in extended losses,” said a market strategist. Elliott Wave Analysis Suggests Further Correction From an Elliott Wave perspective, XRP is in a Wave (B) phase of correction, which can portend bear continuation before stabilizing. XRP’s support at $1.533, say analysts, would be a crucial turning point. “Wave (B) corrections are likely to create uncertainty but pave the way for the big move ahead,” says one technical analyst. XRP shifts to an Expanding Leading Diagonal, with Wave 2 Flat “chop”; demand seen around $2.00. Source: Schu3269…
Filed under: News - @ February 28, 2025 7:23 pm