Key Insights
- XRP is trading above $2.00 after gaining roughly 1% over the past 24 hours.
- If the $2.00 psychological level holds, XRP could aim for the $2.50 zone.
XRP Approaches the $2.10 Technical Area
XRP, the native token of the Ripple ecosystem, has risen about 11.5% year-to-date and has maintained its price above the $2.00 mark.
Over the last 24 hours the token has added roughly 1% and is currently trading around $2.06. This positive move comes as the broader cryptocurrency market shows signs of recovery, with Monero’s XMR leading gains among major altcoins.
Beyond short-term fluctuations, growing institutional demand for spot XRP ETFs supports a bullish case for the medium to long term. Market hopes that the U.S. Senate will pass the Market Structure Bill further reinforce optimistic long-term price targets. Should the Senate approve the bill in the coming days or weeks, XRP could reclaim psychological levels such as $2.50 or even $3.00.
However, a waning interest from institutional and retail investors could weigh on XRP’s performance in the short term.
XRP Targets $2.50 While Support Levels Hold
The XRP/USD 4-hour chart remains biased toward bearishness despite the token’s roughly 11% year-to-date gains. That structure could turn more bullish if key support zones remain intact.
The Moving Average Convergence Divergence (MACD) sits in negative territory, signaling bearish momentum. The Relative Strength Index (RSI) is also at 43, below the neutral 50 level, indicating sellers currently have the upper hand.
If bearish pressure persists, XRP could slip below $2.00 and retest support at $1.92. A prolonged downtrend might see the token revisit the $1.81 support level for the first time since December 31.
Conversely, if current support holds, XRP could move toward the recent resistance near $2.20. A daily candle closing above that level would shift the focus to the $2.50 psychological zone.