XRP price drops after rally, is there still hope for bulls?

Jakarta, Pintu News – After experiencing a significant rise, the price of Ripple (XRP) has now started to correct. However, there are still some support zones that might arrest further declines and provide opportunities for buyers.

Ripple (XRP) Price Correction

The price of Ripple (XRP) has recently shown considerable improvement by breaking the $2.10 and $2.12 resistance just like Bitcoin (BTC) and Ethereum (ETH). The price managed to surpass the $2.20 and $2.22 levels, paving the way for further gains.

In fact, the bulls managed to push the price past $2.25 before the bears finally took over. The price peak was recorded at $2,299 before a downward correction. The price of Ripple (XRP) dropped below the support levels of $2.22 and $2.212, and surpassed the 23.6% Fibonacci retracement level of the last rise from $2.06 to $2.299.

Potential Support and Resistance

After a correction, the price of Ripple (XRP) is now above $2.20 and still above the 100-hour Moving Average. If the price can rise again, the first resistance it will face is at $2.22. If successfully passed, the next resistance is $2.244 and then $2.30.

A clear increase above $2.30 will probably push the price towards $2.35. If the bullish momentum continues, we could see prices heading towards $2.45 or even $2.50 in the near future. The next big resistance for the bulls is at $2.62.

Possibility of Further Decline

If Ripple (XRP) fails to break the $2.22 resistance zone, there is a possibility that the price will drop again. Initial support is at $2.20, followed by important support at $2.18, which is also the 50% Fibonacci retracement level of the last rise. A break below $2.18 could trigger a further drop towards $2.15. If the decline continues, the next support to watch out for is at the $2.12 zone.

Technical Indicators

The Moving Average Convergence Divergence (MACD) indicator for Ripple (XRP)/USD is now starting to lose momentum in the bullish zone. Meanwhile, the Relative Strength Index (RSI) for Ripple (XRP)/USD is now below the 50 level.

The key support levels are at $2.18 and $2.15, while the key resistance levels are $2.22 and $2.45. The next price movement will largely depend on the ability of the bulls to keep the price above the key support or the ability of the bears to press further.

Conclusion

Although the price of Ripple (XRP) is currently experiencing a correction, there is still a chance for the bulls to take back control. The current support zone could be the key to determining the next price direction. Investors and traders should pay attention to technical indicators and support and resistance levels to make informed decisions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

NewsBTC. XRP Price Slips After Rally to $2.20. Accessed on April 24, 2025
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