XRP (XRP) drops almost 40% up to around $ 2.19, two months after hitting a multi-year high of $ 3.40. Cryptocurrency monitors The SEC drops the case against Ripple.
XRP/USD Daily Price Price. Source: Tradingview
However, the XRP is still up to 350% from November 2024 low to $ 0.50, suggesting an integration -including the stage after a strong rally. This action sideways has caused discussions whether it is the end of the Bull Run or a major purchase opportunity.
No purchase opportunity until XRP collapses
The XRP has been combined with between $ 1.77 (support) and $ 3.21 (resistance) since January, with repeated declines near the top of the range and fading bullish momentum.
According to Analyst Credibull CryptoThe recent XRP bounce attempt was stuck below $ 2.20, strengthening bearish control. He now expects the price to revisit the range that lows around $ 1.77 for a potential long entry.
XRP/USD four -hour price chart. Source: Tradingview
The rectangle green chart support area reaches $ 1.50, signed a high-demand zone in which bulls can enter.
A short-term bounce throughout the market-led by bitcoin (Btc) -Trigger of a temporary recovery, arguing with credit, emphasizing that a clean breakout above $ 3.21 will confirm a bullish reversal trend.
Until then, the XRP remains in a sideways structure, with the Credibull approach focused on watching reactions to the $ 1.77 support level before making in a long position.
Source: X
XRP Bull Flag can lead to 450% price rally
Credibull featured the scope of XRP sideways between $ 1.77 and $ 3.21 as a consolidation zone, waiting for a clear breakout to confirm the next trend. Noteworthy, that range may form a bull flag, according to analyst Stellar Babe.
XRP/USD Weekly Price chart. Source: TradingView/Stellar Babe
A bull flag forms when the price is combined within a parallel channel after undergoing a strong complement. This solves when the price breaks above the upper trend and increases as the height of the previous uptrend.
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The Stellar Babe analysis records that if the XRP destroys the upper upper range of the flag border at $ 3.21. Its expected target, based on flagpole height, is around $ 12, up to 450% from current prices.
The five -year channel of XRP at rally at rally up to $ 6.50
XRP is currently compiled within a long-term bullish structure, according to a recent Investingscoope analysis.
The chart shows XRP trading within a five-year-old channel, with the current transfer resembling March 2020 to April 2021 rally based on price behavior and momentum indicators.
XRP/USD Weekly Price chart. Source: TradingView/InvestingsCoope
Despite the pullback, the wider bullish cycle will remain intact as long as the XRP holds above the 50-week transfer of average (1W MA50).
Investingscoope noted that this phase reflects March 2021, which precedes a strong breakout. If the pattern continues, XRP prices can prepare for the next leg up to a potential target of $ 6.50 in the early months.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
