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XRP’s week-long tug-of-war with bearish forces just took another bruising turn. The psychological $2 mark, once a line in the sand, proved to be quicksand as XRP momentarily slipped beneath its grasp in the last 24 hours. This isn’t just a dip; it’s the latest verse in a disheartening ballad of descending peaks and valleys that have plagued the crypto for weeks.
But hold on, crypto enthusiasts! Before you hit the panic button, one X analyst offers a different perspective. Zooming out to XRP’s weekly candles, his chart reveals a comforting pattern: XRP isn’t crashing; it’s simply dancing within a well-worn descending channel, finding support in a familiar embrace.
XRP Price Still Trading Inside A Year-Long Range
XRP’s plunge below $2 could be the knockout punch for XRP bulls, yet a few refuse to tap out. One analyst notes that XRP has been trapped in a year-long tug-of-war, bouncing between $1.90 and $3.50. This recent dip? Just a return trip to familiar territory, not necessarily the end of the road.
XRP teeters on a knife’s edge. A crucial $1.90 green zone, a fortress that stubbornly rebuffed bearish advances in late 2024 and early 2025, now faces its ultimate test. Chart analysis reveals weekly XRP candles perilously close, grazing the lower bounds of a descending yellow channel. This channel, a constricting cage, has dictated XRP’s price trajectory since the last brutal rejection near the ominous red resistance band overhead. The question now: Will the green hold, or will XRP plunge into the abyss?
XRP teeters on a knife’s edge. Holding above $1.90 is the line in the sand, according to analysts. Breach it, and XRP could be flipping burgers, facing a steep correction. But, for now, the green support holds, suggesting this dip is just market static within a broader period of calm before the storm.
However, looming overhead is the formidable $3.60 resistance. This crimson barrier, tested and brutally rebuffed earlier this year, birthed the very trading range that now shackles XRP. Should bulls finally shatter this ceiling, one analyst proclaims, “Valhalla awaits!”
XRP Price Chart. Source: @stedas On X
The Road To Valhalla: What Comes After A Break Above $3.6
XRP teeters on the edge of explosive growth. Clear the $3.60 hurdle, and analysts foresee a rocket launch toward ambitious targets: $7, $12, and potentially a staggering $25 if the bulls stampede. The chart’s yellow trajectory hints at XRP’s lightning-fast ascent once resistance crumbles and becomes a solid launchpad.
While some analysts whisper of XRP soaring to dizzying heights of $100 or even a jaw-dropping $1,000, more conservative forecasts paint a picture of steady, mid-range growth. Currently, XRP is trading at $1.96, a dip of 8% in the last 24 hours, a stark reminder of the crypto market’s notorious volatility.
Featured image created with Dall.E, chart from Tradingview.com
Thanks for reading Analyst Shares Why He’s Not Worried About XRP Price – ‘The Road To Valhala
