- XRP must secure a larger payments and tokenization market share to reach Bitwise’s $29.32 price projection by 2030.
- XRP trades within an ascending channel, with key support at $2.10 and resistance at $2.50, $3.00, and $4.60.
- RSI at 43.94 and MACD below zero indicate weak momentum; a bullish breakout requires stronger volume and trend confirmation.
Recent forecasts for XRP have fueled market discussions, especially with Bitwise projecting a potential surge to $29.32 by 2030. Analysts note the growing impact of real-world asset tokenization and the possible approval of a U.S.-based XRP exchange-traded fund (ETF).
However, reaching this valuation depends on XRP securing a larger share of the payments and tokenization market. According to a Bitwise spokesperson, XRP must gain substantial market share in these sectors for it to have a major price to rise.
XRP Near Key Resistance, Analysts Weigh In
Analysts have pointed out XRP’s resistance levels as bullish patterns emerge. CryptoElites recently stated that XRP is heading to $15 very soon. According to the analyst XRP is up by 600% from $0.50.
This outlook aligns with projections from Egrag Crypto, who identified an inverse head and shoulders pattern. The measured move suggests a target range of $3.7 to $3.9, indicating a potential breakout if XRP maintains its upward momentum.
Current technical patterns suggest XRP is trading within an ascending channel, supporting the overall bullish trend. The channel’s upper boundary is around $4.60, while the lower boundary is near $2.10.
If XRP maintains support at $2.10, Egrag foresees a breakout toward $2.97, with further targets at $3.73 and $4.60. However, failure to hold key support levels could result in a drop to $1.89 or lower Fibonacci retracement points.
Technical Indicators Signal Caution
Despite bullish formations, XRP’s technical indicators show signs of market hesitation. XRP’s closing price of $2.24 for the day shows a 4.05%.
Daily highs and lows ranged between $2.34 and $2.24, with trading volume reaching 54.09 million XRP, suggesting moderate activity. Momentum indicators reveal mixed signals. The RSI is at 43.94, slightly below the neutral 50 level, pointing to weak buying pressure.
A drop below 30 could indicate an oversold condition, potentially leading to a rebound. Additionally, the MACD indicator is below the zero line, suggesting continued selling pressure. If the MACD line crosses above the signal line, a bullish reversal may follow.
XRP Breakout Levels
According to analyst Ali, breaking above $3 would invalidate the current head and shoulders pattern, shifting sentiment toward a stronger bullish outlook. Support levels at $2.10 and $1.89 remain critical, while resistance at $2.50 and $3.00 could act as major hurdles.
If XRP maintains its position above $2.10, a move toward $2.50 remains likely. However, a breakdown below this level may lead to further declines toward $1.89 or lower Fibonacci retracement points. Monitoring volume trends is essential, as increased buying activity could strengthen bullish momentum and confirm a breakout above key resistance zones.
