Key points:
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XRP has difficulty surpassing the $2.35 resistance, indicating a higher level of demand.
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The rise in the number of XRP ETFs approved may catalyze the next leg of the XRP rally.
Bloomberg shares fund experts Eric Balchunas and James Seyffart 95% chance of projecting XRP(XRP), solana (sol) and litecoin (LTC)ETFs are green by the U.S. Securities and Exchange Commission in 2025.
Will the XRP price merger be a higher launch pad for the next move, or will the bears lower the price? Let’s analyze the charts to find out.
XRP Price Forecast
On Monday, buyers pushed XRP higher by a 50-day simple moving average ($2.24), but the long wick on the candlestick showed a higher level of sales.
The 20-day exponential moving average ($2.17) is a key level to be noted in the short term. If the price rebounds from the 20-day EMA with force, it will increase the likelihood of a breakthrough, exceeding the $2.35 resistance. If this happens, the XRP/USDT pair may rise to $2.65.
Conversely, if the price falls and remains below the 20-day EMA, it means the bear is trying to seize control. The two may slide to $2.06 and then drop to $2. Buyers are expected to do their best to defend the $2 level for the $2 level as the distance below will drop to $1.61.
Related: XRP Price Forecast Over $3 in 2025 has a major drawback
The 4-hour chart shows that the Bears defended the $2.35 level. There is 50-SMA support, but if the Bears prevail, the two could drop to $2.06. This is a key level for the Bulls, as a break below $2.06 could bring the couple to $2.
Instead, if the price rises from the 50-SMA, the Bulls will try to push the couple to the neckline of the reverse head and stocks. Rest and approached above the neckline, completing the bullish setting with a target target of $2.76.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
