Key Takeaways
- XRP’s price has remained in a consolidation phase for over 100 days following its price crash from $3.45.
- The Ripple and SEC lawsuit final settlement could act as a catalyst for XRP’s price to reach a new all-time high.
- XRP’s price must break above $3 with strong volume for the trend to remain bullish and move toward new highs.
The price of XRP has been in a range for over 100 days as the price has entered a potential consolidation following its price rally of over 500% from a region of $0.56 to a high of $3.45 as the price of XRP created a strong historical high with expectations mounting for a potential rally towards $5.
XRP’s price failed to match these expectations, as it crashed from its high of $3.45 towards a key low of $1.6, rebounding from this price point to trade higher. However, the price has failed to exhibit strong bullish price action to the upside for weeks now despite strong fundamental news generating social volume for XRP.
Related Read – Ripple (XRP) Price Prediction For 2025
However, despite the failed attempt to trade into higher price points above $2.6, market sentiment for XRP remains bullish, with expectations suggesting XRP ETF (Exchange-traded funds) approval in the U.S. coupled with a final resolution of XRP and SEC (Securities and Exchange Commission) could see price complement its bullish market sentiment.
XRP Price Analysis For Today
Source – XRP Price chart from TradingView
XRP’s price currently trades below $2.16, demonstrating strong price action from bulls despite trading below its $2.6 resistance and shying away from its key major support of $2. As previous price action to the downside for XRP violated this zone following a prolonged price retracement, this zone is likely to be tested again.
The price of XRP swiftly crashed to $1.6 but rebounded to reclaim its $2 area, flipping it into support as the price has since defended this region against a price decline. A close below $2 support could lead to the price retesting at $1.60.
While the price of XRP appears weak, trading within a range, it needs to break above its 50-day and 200-day EMAs (Exponential Moving Averages) for a strong bullish price push toward key resistance at $2.6.
If the price of XRP trades with strong volume towards $3, we could see signs of a promising bullish price rally to the upside, with market sentiment shifting in that direction. However, the rejection of XRP below $2.6 likely signals a strong bearish price push to the nearest low of $1.6.
Despite current uncertainties for XRP, crypto experts believe that not holding XRP currently would mean a loss of opportunity for many, as June and July would filter out XRP faithful from those with paper hands.
Market Reactions from XRP Price Movement
Crypto expert Amonyx, on his X account, suggested that the current price action for XRP in June/July is to separate paper hands from those who have waited for years to see XRP reach this point, as he insists the time left for a mega price rally is dwindling.
He further suggested that an XRP breakout could see the price trading around $20+, which could send the crypto market and the XRP ecosystem into ecstasy.
On-chain data for XRP, as tracked by Ali_charts, has seen significant growth, with active whale addresses reaching a high of over 1.2 million. This could influence the price of XRP to the upside if the price breaks out above $3, signaling a strong volume push.
The current price action for XRP remains a range-bound price movement with no strong bullish push to the upside.