XRP Displays Potential for a Major Break Above $2.50

XRP is currently testing a crucial price level just above $2.00, as analysts suggest a possible reversal might occur. Key price levels to watch are around $2.00, $2.22, and $2.50. The analysis indicates that XRP's current price movement could lead to a significant upward breakout.

Key Takeaways

XRP is positioned at a critical price zone above $2.00.
Analysts Osemka and Dom present converging frameworks suggesting a potential bullish reversal.
Key resistance levels are set at $2.22 and $2.50.
A failure to hold above $2.00 could lead to lower price levels.
Current market conditions suggest that buyers should be vigilant for a shift in trend.

XRP price news

XRP Price Consolidation Approaches Its Conclusion

On a higher timeframe 2-day chart, analyst Osemka describes XRP's price action as a typical flat correction based on the peak from 2021. He explains, “Here’s the range and levels to help you navigate it. We’re basing on top of 2021 high.” Osemka highlights that historically, the price has not broken down after such prolonged sideways movement, leading him to believe this is an accumulation phase and a flat correction.

Osemka charts XRP's price movement within a horizontal band, with its lower boundary aligning with the 2021 high, marked as a “Reaccumulation” area. This support level has been tested multiple times, while resistance in the low-to-mid $2 range has restrained upward movements. Above this, a line referenced by Osemka marks a spike from January, which he identifies as the cycle peak.

XRP price analysis

Using a corrective A–B–C sequence, Osemka indicates that the B leg of the pattern has formed an ascending channel. He added, “That dotted ascending range in the middle (3 legged abc wave in B) has me optimistic as that is a corrective move that is synonymous for a flat correction.” This means that the peak occurred in January, and the current movement is merely a sideways correction. The ongoing C leg is situated within a downward “Corrective channel” that is retracing back toward the lower boundary.

Osemka also suggests that even a deeper test of support would not necessarily spell bad news for the broader structure. He concludes, “If we end up taking the lower end of the range with C leg it’ll remain to be seen. But if so, it’d be a great buying opportunity.” He further connects XRP's price behavior to Bitcoin, indicating, “while Bitcoin is messy, XRP is very clean.”

The Urgency for XRP: A Critical Moment

Analyst Dom focuses on the last six weeks to analyze the microstructure that could spark an upward move back to the upper band. “If you inverse the chart over the last 6 weeks, you’ll see a perfect 3 drive pattern, a very accurate reversal setup in crypto,” he explains. In terms of the regular chart, this pattern indicates three downward pushes that have failed to extend further down, leading to what he labels as a higher low: “We can see a HL has finally formed which can hint at the first sign of a trend change developing.”

XRP price analysis

Dom emphasizes that the monthly rolling VWAP is a crucial pivot point, stating, “Bulls need to regain the monthly rVWAP around $2.22, which would shift the rally back towards ~$2.50.” This price level aligns with higher VWAP clusters and the upper segment of Osemka’s range.

Market dynamics support Dom's perspective, indicating a ripe environment for a potential breakout if buyers enter the market. He observes, “Orderbooks are clear; if there was a time, it’s now for this trend to shift,” noting the well-defined liquidity above and a recovering skew after shorts have been generally washed out.

XRP order books

Conversely, the downside is also clear: if this setup falters, acceptance below $2.00 could signify a downturn. This would result in a significant loss of the critical support area established around the 2021 high, concluding the C leg of Osemka’s flat correction pattern.

Currently, XRP finds itself squeezed between the support level of $2.00, the monthly VWAP trigger at $2.22, and the upside target of approximately $2.50. The six-week 3-drive pattern and flat correction zone signify one of the most distinct technical inflection points on the XRP chart for this year.

As of now, XRP is trading at $2.1798.

XRP price