Key takeaways
- XRP is trading above $2.00 after gaining 1% in the past 24 hours.
- If the psychological $2.00 level holds, XRP could rally toward $2.50.
XRP nears a technical zone around $2.10
XRP, the native token of the Ripple ecosystem, has risen about 11.5% year-to-date and remains priced above $2.00.
The coin has gained roughly 1% over the last 24 hours and is currently trading near $2.06. This positive move comes amid a broader crypto market recovery, with privacy-focused XMR from Monero among notable gainers.
Despite recent price consolidation, growing institutional demand for spot XRP ETFs is supporting a bullish outlook over the medium and long term. Additionally, expectations that the U.S. Senate may pass market-structure legislation have reinforced optimistic long-term price projections. If the Senate approves market-structure reforms in the coming days or weeks, XRP could revisit psychological targets of $2.50 or even $3.00.
On the other hand, a decline in interest from institutional or retail investors could weigh on XRP’s near-term performance.
XRP targets $2.50 as support levels hold
The 4-hour XRP/USD chart still shows bearish characteristics despite Ripple’s 11% year-to-date advance. However, the structure could turn bullish if key support levels remain intact.
MACD lines remain in negative territory, indicating a bearish bias. The Relative Strength Index (RSI) sits around 43, below the neutral 50, signaling that sellers currently have the upper hand.
If bearish pressure persists, XRP could slip below $2.00 and retest support near $1.92. A prolonged bearish trend might push the price down to the $1.81 support level, a zone last touched on December 31.
Conversely, if the current support holds, XRP may climb toward the recent resistance near $2.20. A daily candle close above that level would likely shift attention to the psychological $2.50 zone.