- XRP dropped below $2.20 after reaching $2.299, trading at $2.19636.
- A breakout above $2.30 could send XRP towards $2.350, $2.450, and $2.50.
- Active addresses rose 67.5%, indicative of growing retail interest and possible long-term confidence.
XRP’s price surged past key resistance levels at $2.10 and $2.120, mirroring bullish moves by Bitcoin and Ethereum. The price drops below $2.20 after peaking at $2.299. The correction continued as the price slipped beneath the 23.6% Fib retracement level from the $2.060 low to the $2.299 high.
A break below the bullish trend line at $2.220 on the hourly chart signaled weakening momentum. Despite this, Ripple remains above $2.20 and the 100-hourly Simple Moving Average, indicating some support still holds.
What’s Next for XRP: Rebound or Further Slide?
XRP is currently trading at $2.19636, down 1.02% over the last three hours. Analysts are looking at immediate support at $2.19593 and resistance at $2.22438. In case the bulls take over, a breakout above $2.30 would push XRP towards $2.350, $2.450, and then $2.50. The bulls are looking at $2.620 as the next target.
Retail interest surged ahead of the Ripple futures launch on Coinbase, marked by a 67.5% spike in active addresses. This enthusiasm could pave the way for a spot ETF, further legitimizing Ripple and enhancing institutional access. The increase in network activity reflects rising engagement and possible long-term investor confidence.
Technical indicators show that XRP may face immediate resistance at $2.220 and stronger resistance near $2.24. Clearing $2.30 could enable further gains. However, if bulls fail to overcome $2.22, Ripple may drop toward $2.180 and even $2.150. A further slide might see support at $2.12 tested.
Potential Breakout: Key Resistance at $2.30
Analyst Ali Martinez observed an inverse head and shoulders pattern forming on XRP’s 1-hour chart since March 29. He forecasts that a breakout above the neckline resistance at $2.30 could lead Ripple to rally toward $2.70, with further targets at $3.00, $3.45, and even $3.60 if bullish momentum persists.
Glassnode data confirms increasing Ripple network activity, with active addresses jumping from 27,352 to 40,366 in one day. Meanwhile, XRP-based investment products recently outperformed those tied to Bitcoin and Ethereum, signaling a shift in investor preference despite broader market uncertainty.
On the daily chart, Ripple is trading near the upper Bollinger Band, suggesting continued bullish momentum. A break above $2.27 may trigger another rally, while a drop below the mid-band near $2.07 could indicate weakness. The RSI at 56.59 shows positive momentum without overbought conditions, supporting further upside potential.
Read More: Institutional money flows into XRP, price rises to $2.22 with 47% volume surge