- XRP is showing rebound signs, with $2.90 as a near-term target, while key support levels remain intact.
- SEC approval for the first spot XRP could trigger significant upside, potentially pushing the price toward $5.
- The recent double bottom formation indicates a possible trend reversal, though resistance near $2.82 may slow momentum.
XRP is showing signs of a possible rebound after a recent dip, but the key support and resistance levels are in focus. Analysts are optimistic that the SEC is expected to approve the first spot XRP soon. Recent chart patterns hint at a potential shift in momentum, keeping the market closely watched.
At the time of writing, XRP is trading at $2.81, with a 24-hour trading volume of $6.79 billion and a market capitalization of $168.32 billion. Over the last 24 hours, the token has decreased by 2.15%, reflecting some short-term selling pressure.
SEC Approval May Boost XRP Price
Notable crypto analyst STEPH IS CRYPTO pointed out that approval of the first spot XRP is due from the SEC in the next 10 days. On the basis of the analyst, a $5 price tag for XRP is fair if approval is forthcoming, implying great upside potential in the next few weeks.
XRP Signals Potential Short-Term Rebound
Meanwhile, another well-known analyst, BitGuru, noted that XRP recently established a double bottom formation, which suggests a reversal of market trajectory. However, the cryptocurrency is for the moment experiencing some resistance around the $2.82 mark, whereby may lead to a temporary halt in rising momentum.
If the buyers can hold off the $2.80–$2.82 area, then the token may experience a reversal back toward $2.90, providing a near-term buy for vigilance among viewers. Investors indicate that judicious observation of these supporting and resistant areas is going to define the move of XRP in the near future.
Also Read | 3 Reasons Why XRP Is At a Crossroads: Can It Spark New Momentum?
XRP Holds Near Support Zone
The RSI is at 52.93 with neutral momentum and low buyer power. XRP is contained around slightly above the MA Ribbon support, around $2.76. The 50 SMA around $2.42 is still a significant defense in case of rising selling pressure.
MACD line 0.18566 is still below the signal line 0.22061, implying declining power. Minimal negativity of the histogram at -0.03495 reiterates lower buy pressure. The coin can remain range-locked in $2.7–$3.0 until buying power shores up.
Also Read | Analysts Warn XRP Could Retest $2.72 Support Ahead of ETF Decision
