Key points
- XRP trades above $2.00 after gaining 1% in the past 24 hours.
- If the $2.00 psychological level holds, XRP could rise toward the $2.50 psychological target.
XRP Approaches $2.10 Technical Zone
XRP, the native token of the Ripple ecosystem, has climbed about 11.5% year-to-date and remains above the $2.00 mark.
The coin has gained 1% over the last 24 hours and is currently trading around $2.06. This upward move comes as the broader crypto market shows signs of recovery, with Monero (XMR) among the notable performers.
Despite recent price consolidation, growing institutional interest in spot XRP ETFs supports a constructive medium- to long-term outlook. Optimism around the U.S. Senate passing the Market Structure Bill also underpins bullish long-term targets. Should the Senate approve the bill in the coming days or weeks, XRP could retake psychological levels at $2.50 or even $3.00.
On the other hand, waning interest from institutional and retail investors could weigh on XRP’s short-term performance.
XRP Eyes $2.50 as Support Levels Hold
The XRP/USD 4-hour chart still shows bearish characteristics, even though Ripple has added roughly 11% since the start of the year. However, the structure could flip bullish if key support levels continue to hold.
The Moving Average Convergence Divergence (MACD) lines sit in negative territory, signaling a bearish bias. The Relative Strength Index (RSI) also reads about 43, below the neutral 50, indicating sellers currently have the upper hand.
If bearish momentum persists, XRP could slip back under $2.00 and retest support at $1.92. A more prolonged downturn would put the $1.81 support level in play for the first time since December 31.
Conversely, if current support holds, XRP may push toward recent resistance near $2.20. A daily candle close above that resistance would spotlight the $2.50 psychological area as the next meaningful target.