Crypto analyst Captain Redbeard reports on the potential rebound of XRP and forecasts a price target of $10 based on current market trends and technical signals.
Strong Support Signals
XRP is currently consolidating above a crucial support zone between $2.00 and $2.10, which coincides with the 0.618 Fibonacci retracement level from its February–April rally. This level is often regarded as a prime reversal point. The 200-day Exponential Moving Average (EMA), at just below around $2.00, is also providing dynamic support.
Technical Indicators Turn Bullish
Several technical indicators are reinforcing the bullish outlook. The Relative Strength Index (RSI) on the daily chart is gradually climbing toward the 60 level, showing a recovery in momentum after recent selling pressure. The Moving Average Convergence Divergence (MACD) is on the verge of a bullish crossover, further hinting that XRP could be preparing for a rally.
Macro Factors and Institutional Momentum
XRP’s technical strength is being reinforced by favorable macro and fundamental developments. Ripple’s strategic advancements are boosting confidence in the long-term value of the XRP Ledger. Additionally, the growing global interest in real-world asset (RWA) tokenization plays directly into XRP’s core use case as a liquidity and settlement asset.
For now, XRP’s ability to hold the $2.00 support and break above nearby resistance levels remains the immediate focus. If bulls succeed, Redbeard’s forecast could mark the start of XRP’s next major leg up and possibly its journey to a two-digit valuation.
