- XRP jumped from $2.25 to $2.41, challenging significant resistance points since January.
- Analyst Aaron is forecasting a brief rally to $2.50, with caution about pullbacks.
- Fibonacci retracements suggest support at $2.00–$1.90 if rejection occurs.
XRP has regained bullish momentum following a sluggish start to May, aligning with the broader crypto market’s upswing. Over the past 24 hours, the token surged back from $2.25 to $2.41, a crucial resistance zone that has repeatedly capped upside moves since January, shaping XRP’s evolving macro trend.
The move back up to $2.25 represents renewed confidence among investors, but there remains uncertainty. Trader Aaron pointed out that area as a tipping point. In a post on May 10 on TradingView, he forecast a short-term upswing towards $2.50, with a caveat that a failure at this level would push the price back down toward about $2.20.
Despite the bullish appearance on the daily chart, Aaron emphasized the overarching weekly downtrend. He explained that without a bullish catalyst, XRP is unlikely to sustain higher levels. However, he left room for surprises, stating, “Some type of news comes out and price just shoots up and blasts past $2.50 lol.”
Key Resistance at $2.25 Holds the Spotlight
According to a technical analysis shared on social media platform X, the $2.25 resistance is XRP’s make-or-break zone. Price action in early May has repeatedly failed to close above $2.249 to $2.273, indicating a lack of strong momentum to initiate a breakout.
Additionally, it coincides with important Fibonacci retracement points, including 0.392 from January’s peak and the 0.118 level from April’s high, which converge at the $2.25–$2.27 zone. These confluence points increase the significance of this area and increase the possibility of volatility as XRP works through these challenges.
Although the token remains strong, from $2.077—a point equivalent to the 0.382 Fibonacci retracement—XRP’s rally is now facing strain. Buyers seem tired at the point of resistance, and repeated attempts are indicative of a potential local peak if momentum falters.
Fibonacci Levels Suggest Support at $2.00
The relative strength index (RSI) on the chart is now up at 72, indicative of near-overbought conditions. The indicator points towards a possible stalling of the rally or a temporary correction. As resistance remains strong and momentum is decreasing, traders are being cautious about buying at present prices.
If a rejection occurs, XRP could drop sharply to $2.00 or even $1.90, areas reinforced by the 0.5 and 0.618 Fibonacci retracements. These support points are set to serve as cushions, with a strong breakdown potentially further sapping bullish sentiment and resetting expectations for a renewed consolidation phase.
