by Muhammad Ali
There are mixed signals in the cryptocurrency market at the moment. Following the recent bullish run most of the assets show neutral price outlooks. For example, although XRP has stabilized around the $2.5 price zone it’s not clear whether its value will spike or plummet further. However, as things stand XRP has established a strong support at $2.30. The asset reached a local bottom of $2.2828 within the last few days.
As a result, many investors closely watch its price movement to establish if its value may fall towards that level or rise to its recent high of $2.70. However, the XRP price has been fluctuating within a horizontal channel. XRP is currently priced at $2.56 XRP/USDT. The following graph shows its current price trajectory.
XRP Price chart – Gate.io
As the picture above shows, XRP is within a symmetrical triangle formation. This is a trend continuation pattern which denotes that the downtrend may persist. However, there is also a chance that the price may breakout on the upper side since the short-term trend is moving upwards. At the moment, the asset has breached several minor resistance levels that include $2.3250 and $2.340. As we note from the graph, if the price breaks above the triangle formation it is likely to surge past $2.60, the origin of the upper trendline.
Catalyst of the Bullish Outlook
The current XRP bullish outlook might have been triggered by the news of an alliance with Archax, an FCA-regulated digital asset exchange, asset custodian, and broker. This is earmarked to provide access to a money market fund from Abrdn, a UK-based asset manager. The fund will be in tokenized form based on the XRP ledger (XRPL).
This development positions XRP as a leading blockchain for “real-world asset (RWA) tokenization and institutional decentralized finance (DeFi).” Also, this should attract many institutional investors to put their funds in XRPL products such as the XRP coin. The circulation of the news of the XRPL partnership with Archax should have generated a positive market sentiment among XRP investors.
XRP Technical Analysis
As already hinted above, XRP could enter another bullish trend. However, at the moment the coin is showing a bearish outlook. The graph illustrates the XRP current market state. As it shows on Gate.io, the futures trading is at $2.566 XRP/USDT.
XRP Technical Analysis – Gate.io
The Ichimoku indicator shows that XRP is within a range since it is flat. The future cloud is also brownish which indicates a bearish inclination. On the other hand, the 50-day moving average is crisscrossing the price line. This shows that the asset is not outrightly in an uptrend or downtrend.
The XRP Relative Strength Index (RSI) has a reading of 56.30. Besides this, this shows that the asset is within a neutral market state. Finally, the Average Directional Index (ADX) line, with a reading of 16.71, is downward sloping. This indicates that the asset’s volatility is very low. And worse still, it is falling. The above analysis shows that the XRP value may fluctuate within a small range of between $2,296 and $2.47 until it breaks above or below the current channel.
The fact that most leading cryptocurrencies have a strong positive correlation with bitcoin indicates that they replicate the bitcoin performance in most cases. At present, the three-month correlation between XRP and Bitcoin is 0.82. This shows a very strong positive correlation between the two assets.
XRP Price Prediction in 2025
The XRP price direction will become clear in the near future once it shows its bias. If its price breaks above the $2.70 price level it will then target $2.950; However, Gate.io has predicted that the XRP price will reach $13. It believes that once the coin price breaks above the $2.61 level it will likely head towards a new ATH. If the buying pressure persists it will soar towards $13 XRP/USDT or even higher. This analyst used the Elliott Wave theory to come up with that XRP price prediction.
On the other hand, Changelly, a crypto analytic platform, predicts that the XRP price may reach $3.44 XRP/USDT by the end of May. However, it forecasts that its value could fall during June to close the year at around $3.97. Despite this, the direction and the magnitude of the XRP price will depend on various factors such as the general market sentiment and the evolving global economic environment. At times, geo-political tensions affect the price performance of digital currencies.
Even if many of the existing factors seem to promote a bullish price outlook investors should always be cautious. This is because cryptocurrencies are volatile by nature. Every investor should use proper risk management strategies such as stopping loss and taking profit orders. It may also be wise to invest in different digital assets rather than putting one’s funds in a single cryptocurrency. However, there are various positive developments that are affecting the XRP price. The positive factors include the forging of partnerships and a rise in institutional interest in the asset. However, regulatory uncertainty and a negative market sentiment negatively affect the price of cryptocurrencies such as XRP.
#blockchain #crypto, #decentralized, #distributed, #ledger