XRP Price Holds $2.50: Can It Resume Its Bull Market Uptrend?
XRP has dropped over 31% since its July high near $3.66, falling to around $2.50 after a 12.5% decline in the past week. To regain bullish momentum, XRP must close above the 200-day simple moving average (SMA) at $2.58, then flip the $2.70–$2.80 resistance into support. A move above the 20-day exponential moving average (EMA) at $2.72 would further strengthen a bullish outlook. Technical analysis shows XRP is trading within a descending broadening wedge, giving it a 57% chance of breaking upward; if successful, it could rally toward $9.50, with some analysts projecting even higher targets of $20 or $27. There remains a 43% risk of a breakdown to as low as $0.50. Other indicators, including oversold Stochastic RSI on the weekly chart, signal a potential bullish reversal if support holds.
