- XRP breaks major downtrend resistance and holds above $2.30 support, showing strength as bulls eye a potential move toward $3.89.
- Price consolidates between $2.15 and $2.35 after trendline breakout, with $3.10 and $2.62 acting as key resistance levels.
- XRP structure remains bullish above $2.30 with strong support at $1.63 and upside potential if momentum sustains through $3.10.
According to EGRAG CRYPTO, XRP has demonstrated quite resilience after recovering from the $2.30 support and trading at $2.3845 on May 17, 2025. The price action is in the shape of a double bottom pattern near $2.3126, signaling a potential trend reversal. In addition, XRP broke out above a key declining resistance line that extended from December 2024 to May 2025. Such a breakout indicates a shift in market sentiment. Poloniex’s 12-hour analysis confirms the action because the volume in trade is $4.24 million, illustrating mean interest.
Source: EGRAG CRYPTO
Moreover, XRP continues to consolidate within a narrow range between $2.15 and $2.35. This range formed after the breakout and suggests potential accumulation. The 0.888 Fibonacci level at $2.30 acts as a pivotal support zone. Price has repeatedly tested this level, showing bullish strength. However, resistance at $2.62 remains a key short-term barrier. The $3.10 level stands as a major upside target, previously marked by strong seller interest.
Market Structure Shifts Amid Volatility
The market saw volatility earlier in the year. In January, XRP surged to nearly $3.40 before entering a corrective phase. Since then, multiple price dips tested the $2.30 level, confirming it as a firm support base. Additionally, a clear horizontal line marks this level, making it a reference point for both bulls and bears.
Consequently, analysts have projected two potential price pathways. The bullish scenario shows XRP targeting $3.89, labeled as target “1.” This pathway hinges on a breakout above $3.10 resistance. Conversely, a bearish scenario points toward $1.20, aligning with the 0.702 Fibonacci level. This deeper retracement could occur if downward pressure increases.
Support Zones and Key Price Levels
Horizontal support remains firm at $1.63, which cushioned April’s price drop. Besides, intermediate supports between $1.80 and $2.10 helped XRP regain bullish momentum in recent weeks. Hence, the current structure indicates a foundation forming above the broken descending trendline. XRP’s ability to sustain this level could set the tone for further gains.
Moreover, the market is navigating through micro noise within tight Fib ranges, awaiting a decisive move. The structure leans bullish unless the $2.30 level breaks down with high volume. For now, XRP holds its ground firmly, awaiting confirmation of its next major move.
