Ripple’s native token, XRP, is currently trading at $2.12, struggling to gain any significant bullish momentum. The token has been rangebound for nearly a month, reflecting a period of stagnation in its price movement. Earlier this year, XRP reached a high of $3.31 in January. However, since then, the token has been on a downward trajectory, losing steam and failing to regain its previous highs.
Despite the lack of strong market sentiment, XRP has shown resilience during periods of market turbulence. Notably, it dipped below the $2 mark only once this year, in April, when President Trump announced tariffs on 185 countries, causing widespread uncertainty in global markets. However, XRP quickly rebounded above $2 after a 90-day pause on the tariffs was announced.
This price action highlights XRP’s ability to find key support levels, even amid geopolitical and economic challenges. As global markets begin to stabilize after periods of uncertainty, Ripple’s native token could potentially find stronger footing, provided the overall market conditions improve and investor confidence returns.
Ripple (XRP) Might Not Fall Below $2 Again
XRP has been trading within a tight range of $1.90 to $2.20 throughout this year, holding this position for nearly 200 days. This prolonged consolidation phase has caught the attention of analysts at TradingView, who suggest that XRP’s current market behavior mirrors its performance in 2017. Back then, a similar consolidation period acted as a precursor to a significant price rally.
According to these analysts, XRP could soon establish a bottom around the $2 level, potentially setting the stage for a breakout. If this pattern repeats, it may signal an upcoming price surge for the altcoin, sparking optimism among investors and traders.
Ripple’s XRP could gain momentum and test its resistance levels at $2.30 and $2.45. The current price movement mirrors its 2017 performance when it surged from $0.006 to $2.21 in just 10 months. If XRP breaks through the $2.45 and $2.50 levels, it’s unlikely to dip below $2 again.
This may be a good opportunity to accumulate XRP at lower levels and hold until it surpasses resistance. A similar rally could occur as seen between late 2024 and early 2025, when XRP jumped from $0.50 to $3.31 in under two months following a price breakout.
Also Read: Crypto Market Shaken as Middle East Tensions Surge: Altcoins Suffer Most
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
