XRP key price level to watch as $2.50 remains in sight

By: finbold|2025/05/05 01:00:01
0
Share
copy
XRP is consolidating just above the $2 mark, with the asset’s next push toward the $2.50 level dependent on key price zones.To this end, FenzoFxBroker analysis indicated that for the asset to reclaim $2.50, the resistance at $2.35 remains a key level to clear. In a TradingView post, the analysis suggested that a clear break above this barrier could pave the way for a push toward the psychologically significant $2.50 mark, an elusive level in recent trading sessions.XRP price analysis chart. Source: TradingViewXRP must hold above the $2.120 support zone to maintain its bullish bias. A failure to do so could signal weakness, potentially leading to a decline toward the $2.034 support. If this level is breached, further downside risk could extend to $1.924, marking a deeper retracement within the current trading range.XRP traders lean bullish Indeed, if on-chain data is any indication, XRP is likely to reclaim the $2.50 level, considering that most investors are leaning bullish.In this regard, data from Binance Futures shared on May 4 indicated that 71.54% of traders with open positions in XRP are betting on upward price movement. However, caution is warranted, as such an imbalance in positions could increase volatility, especially if the price moves against the crowded side.XRP long/short ratio. Source: BinanceAs things stand, XRP is trading in line with the broader cryptocurrency market, as the asset currently lacks key catalysts to support sustained price growth. Notably, investor optimism could rise if the case between Ripple and the Securities and Exchange Commission (SEC) is concluded. Speculation persists that the legal drama may be nearing a resolution, with key Ripple officials reportedly meeting with the SEC.Additionally, developments around a potential XRP spot exchange-traded fund (ETF) approval in the U.S. could be a major catalyst. The SEC has delayed decisions on several applications, with the next announcements expected in June and mid-October this year.XRP price analysisAt press time, XRP was trading at $2.20, down about 0.6% in the last 24 hours. The asset is also red on the weekly chart, down 1.5%. The price has remained relatively stable despite releasing over one billion XRP from the Ripple escrow account.XRP seven-day price chart. Source: FinboldAt its current price, XRP is trading just below its 50-day simple moving average (SMA), suggesting short-term resistance while remaining above the 200-day SMA of $1.91, indicating a bullish long-term trend. The 14-day Relative Strength Index (RSI) at 53.44 reflects neutral momentum, aligning with broader market sentiment.Featured image via ShutterstockThe post XRP key price level to watch as $2.50 remains in sight appeared first on Finbold.

You may also like

Dune Stablecoin Research: The Flow and Demand of a $300 Billion Market

In the dataset, transfers are no longer simply labeled as pure "transaction volume," but are classified as different on-chain activities. This is the difference between "just knowing that $100 trillion has been transferred" and "understanding why it was transferred."

Stripe Annual Letter: New cognitive density is extremely high, especially the 5-level model of "AI + Payments"

Every trend here is affecting everyone's future survival.

Sam Altman's Twenty-Four Hours: The Pentagon said "no" twice, but only one was serious

In Silicon Valley, Altman's sub-12-hour move has a name. It's not called backstabbing, it's called timing.

The US-Iran Conflict Spreads to the Crypto Space: What to Expect in the Market on Monday

The most important industry in the crypto world, only 300 kilometers away from the missile's impact point

Lily Liu, the chair of the Solana Foundation, shouted "Don't waste time on crypto," is the crypto industry really dead?

The interest of the younger generation is shifting from cryptocurrency to the field of artificial intelligence, which coincides with the current phenomenon in the cryptocurrency industry.

The little deer live by the water and grass

Mining companies have never been the most devout believers in Bitcoin. Under the pressures of halving compressing profits, financial reports showing revenue growth without profit increase, and coin prices falling below mining costs, the industry is collectively de-risking.

Popular coins

Latest Crypto News

Read more