Is XRP price around $2 an opportunity or the bull market’s end? Analysts weigh in
The post Is XRP price around $2 an opportunity or the bull market’s end? Analysts weigh in appeared on BitcoinEthereumNews.com.
XRP (XRP) has dropped nearly 40% to around $2.19, two months after hitting a multi-year high of $3.40. The cryptocurrency is tracking a broader market sell-off driven by President Donald Trump’s trade war despite bullish news like the SEC dropping its case against Ripple. XRP/USD daily price chart. Source: TradingView However, XRP is still up 350% from its November 2024 low of $0.50, suggesting a consolidation phase after a strong rally. This sideways action has sparked discussions over whether it’s the end of the bull run or a prime buying opportunity. No buying opportunity until XRP falls further XRP has been consolidating between $1.77 (support) and $3.21 (resistance) since January, with repeated rejections near the top of the range and fading bullish momentum. According to analyst CrediBULL Crypto, XRP’s recent bounce attempt stalled below $2.20, reinforcing bearish control. He now expects the price to revisit the range lows around $1.77 for a potential long entry. XRP/USD four-hour price chart. Source: TradingView The rectangle-shaped green support area on the chart extends as low as $1.50, signaling a high-demand zone where bulls could step in. A short-term marketwide bounce—led primarily by Bitcoin (BTC)—could trigger a temporary recovery, argues CrediBULL, emphasizing that only a clean breakout above $3.21 would confirm a bullish trend reversal. Until then, XRP remains in a sideways structure, with CrediBULL’s strategy focused on watching for reactions at the $1.77 support level before committing to a long position. Source: X XRP bull flag may lead to 450% price rally CrediBULL highlighted XRP’s sideways range between $1.77 and $3.21 as a consolidation zone, waiting for a clear breakout to confirm the next trend. Interestingly, that very range may be forming a bull flag, according to analyst Stellar Babe. XRP/USD weekly price chart. Source: TradingView/Stellar Babe A bull flag forms when the…
Filed under: News - @ March 30, 2025 1:17 pm