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XRP Price Today: XRP on 'Make It or Break It' Move, $3 Next?
Key Notes
Prominent crypto analysts are divided on whether XRP
XRP $2.23
24h volatility: 6.1%
Market cap: $129.87 B
Vol. 24h: $3.50 B
will soar past $3 or collapse below key support levels
The battle between bulls and bears is heating up, and XRP’s next move could define its trajectory for the coming months.
Make It or Break It
Renowned analyst Ali Martinez has pointed out the formation of a head-and-shoulders (H&S) pattern on XRP’s daily chart. This is a classic bearish reversal pattern that suggests a potential downside move
If the H&S pattern plays out, XRP could be in for a massive correction, considering the altcoin is already down around 5% in the past 24 hours.
The target price is measured using the height from the head to the neckline and projecting this height downward from the neckline, which comes out to be $1.50, a significant drop from the current price of $2.24.
However, veteran trader Peter Brandt sees a more pessimistic target of $1.07, reinforcing a bearish outlook if XRP decisively loses the $2 support.
Analysts warn that a failure to hold the $2 level could lead to a freefall towards $1.20-$1.07. Brandt explicitly mentioned that he wouldn’t want to own XRP below $1.90, indicating the high stakes involved.
Bullish Scenario: XRP to $15?
On the flip side, if XRP invalidates the H&S pattern by breaking above $3, it could trigger a sharp bullish move
Martinez emphasized that surpassing $3 would flip the narrative, potentially fueling a rally toward previous cycle highs.
Related article: Will XRP Price Drop Below $2 as Ripple Lawsuit Settlement Triggers Sell-the-News?Crypto analyst CryptoELITES sees an even more explosive move, suggesting XRP could head toward $15. This bullish projection aligns with a cup-and-handle pattern forming on higher time frames
Based on Fibonacci retracement levels, if XRP maintains momentum above $3.36, the next significant resistance levels would be $8.34 (1.272 Fib level) and $13.55 (1.414 Fib level).
XRP Price Analysis
According to CoinMarketCap data, XRP dipped to a daily low of $2.25 in the past 24 hours and failed to retain price action above the 20-day Exponential Moving Average (EMA) at $2.36. Now, this 20-day EMA presents a resistance for further upward movement of the altcoin
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.