XRP price prediction: Identifying key targets after $2.30 rejection
The post XRP price prediction: Identifying key targets after $2.30 rejection appeared on BitcoinEthereumNews.com.
XRP bulls were rebuffed at the $2.3 resistance, which was the 50% retracement level. The clues from the liquidation heatmap showed short-term bearishness. The Ripple [XRP] vs SEC legal war was nearing its end, and traders have reason to anticipate a bullish outcome. Whale addresses holding XRP have reached record highs, and data from Binance showed a majority of traders were taking long positions. While these pieces of bullish news surfaced, the on-chain activity showed an eerie stillness. The number of new addresses created has been falling since December. XRP outflows from exchanges were also dwindling, compared to the heavy accumulation near the start of 2025. This pointed toward a “wait and see” mode from market participants, instead of active excitement and bullish hype. XRP price prediction- Bulls continue to struggle at… Source: XRP/USDT on TradingView In mid-April, XRP managed to breach a descending trendline resistance (white). This breakout did not see a bullish follow-through. The 50% retracement level at $2.3 has halted the bullish advance. The CMF fell below -0.05 over the past ten days to indicate heavy capital outflow from the market. This selling pressure helped explain the rejection at $2.3, and the MACD signaled that momentum was not bullish. The Stochastic RSI dived toward the oversold territory, but it does not promise a sizable price bounce due to the strength of selling. Overall, XRP traders could anticipate further downside. Source: Coinglass The 3-month liquidation heatmap showed that the $2 level was a magnetic zone for the price. It was also relatively closer to the current market price than the $2.4 liquidity cluster. Additionally, it was also a psychological round-number support level. Source: Coinglass The 1-week liquidation heatmap shows that XRP experienced a minor price bounce after sweeping the $2.15 liquidity pocket. However, this bounce has been completely…
Filed under: News - @ May 5, 2025 1:28 pm