This morning, the crypto trading community on Twitter actively discussed a new chart analysis of XRP shared by analyst @WorldOfCharts1. The article examines current support and resistance levels, as well as potential forecasts for this cryptocurrency.
Current Market Situation of XRP
XRP is currently trading around $2.26, and the chart shows it is retesting the key $2.15–$2.35 zone. This area has served as both support and resistance for several weeks. Earlier, XRP was rejected at a descending trendline that has restricted growth since May. Now the cryptocurrency is trying to hold above the zone it just broke out from.
Chart-Level Forecasts
Many traders believe that if XRP can stay above $2.15 and push past $2.35 with volume, this would confirm the breakout. The established chart suggests possible recovery toward the $3.10–$3.20 range, which represents a 35% increase from current prices. However, confirmation of this move requires a strong close above the resistance zone.
Possible Future Price Movement Scenarios
There is also a bearish scenario: if the $2.15 level fails, XRP could fall back to $2.00 or even drop to $1.95. The recent rejection from the trendline indicates that sellers are still active. Additionally, a consolidation scenario within the $2.15–$2.35 range is also possible, which would not be favorable for quick trades but would maintain the bullish structure. The next few candles on the 12-hour chart will be key: if XRP can close above $2.35, this would likely open the path to higher levels; otherwise, the breakout might have been a false one.
At present, the chart structure favors the bulls, but follow-through action is needed to confirm further growth.
