Ripple’s XRP Has Drawn Renewed Community Interest Recently

This price action tests critical support levels, prompting analysts to weigh near-term risks against longer-term bullish projections, some targeting as high as $15.

Ripple’s (XRP) price has come under renewed focus in the community recently, even as its chart shows more near-term weakness.

Despite a major regulatory win with the SEC lawsuit dismissal and several analysts setting price targets as high as $15, XRP has yet to see such a sharp price surge.

At least one analyst is now highlighting critical support levels that could determine if more short-term weakness or a bounce is in store.

Egrag Identifies $2.22 as Crucial Immediate Support

Popular cryptocurrency analyst Egrag highlighted the importance of the $2.22 level for XRP.

This price point has been tested multiple times in the past and is an area that immediate support could come from.

If buyers can defend this level, then a bounce back up towards the major resistance around $3 could be tested.

However, if sellers can break and sustain below $2.22, then this could put more short-term bearish pressure on XRP. This could lead to lower levels of support being tested, such as the 2023 lows around $1.95-$2.10, which played a key role in the recent multi-year breakout.

Long-Term View: Analyst Reiterates $15 Target After 600% Gain

Taking a significantly more bullish long-term view, analyst CryptoElite recently reaffirmed a bold price target of $15 for XRP.

Notably, this analyst reportedly shared this outlook when XRP was trading around $0.50.

According to CryptoElite, XRP's decisive break above multi-year resistance (formerly $1.95-$2.10) and the potential formation of a large cup and handle pattern are key technical confirmations.

Their analysis, based on Fibonacci extensions, suggests potential targets around $8.34 and eventually $13.55-$15 if strong bullish momentum continues, drawing parallels to previous market cycles.