XRP Price Prediction: Will the Cryptocurrency Market Bounce Back?

The cryptocurrency market is currently trying to bounce back and the next few days will be crucial to determine the market direction.

The cryptocurrency market is currently attempting to recover, and the next few days will be pivotal in deciding the overall direction of the crypto space. Bitcoin and Ethereum are showing signs of bouncing back from a key Fibonacci level, Solana is still displaying a short-term bullish divergence, and Chainlink has experienced a strong bounce off an oversold condition. Meanwhile, XRP is breaking out of a critical resistance zone.

On a 3-day chart, XRP continues to face bearish pressure. A significant bearish divergence is evident, implying that a sustained bullish momentum is not likely in the near future. According to analyst Josh of Crypto World, this signal on the larger time frames suggests that a major upward movement is not expected. However, short-term bullish movements or scalping opportunities might still arise on smaller time frames.

Recently, XRP bounced off key support levels, particularly between $1.95 and $2.25. For several hours, the price faced difficulties in breaking through a short-term resistance zone in the $2.25 to $2.30 range. However, a positive shift occurred with a confirmed breakout above $2.30 on an 8-hour candle, closing at this level, signaling a potential short-term bullish trend.

Looking ahead, the next key resistance levels for XRP are expected to be between $2.65 and $2.80. If the price continues to rise, additional resistance may appear at the $3 mark. In the short term, potential resistance could be seen around $2.50 and $2.38–$240, as previous support zones could now act as resistance.

To anticipate XRP’s price movements more effectively, tracking Bitcoin’s price trends is essential. If Bitcoin experiences short-term bullish relief, XRP and many altcoins are likely to follow suit. Conversely, if Bitcoin’s price continues to decline, similar drops across major altcoins, including XRP, can be expected.