XRP Drops 4.27% to $2.02, Tests Critical $2.00 Support

XRP is currently priced at $2.02, reflecting a 4.27% decline from its previous close. The analysis of XRP’s price action across weekly, daily, and 4-hour charts provides insights into its potential future movements and what traders should anticipate in the upcoming sessions.

The weekly chart indicates that XRP is currently testing a critical support zone around $2.00. Historically, this level has served as a strong buying point, providing a solid foundation for XRP’s price action. As long as the price remains above $2.00, there is potential for a rebound and a continuation of the uptrend. Traders should closely monitor this key level, as a break below $2.00 could trigger further selling pressure and a retest of lower levels.

On the daily timeframe, XRP appears to be forming a head-and-shoulders pattern, a bearish reversal formation. The neckline of this pattern sits at around $2.00. If the price breaks below this level, it could signal a potential downtrend, with a price target of approximately $1.23, marking a 38% correction from the current price. This bearish outlook underscores the importance of the $2.00 level as a pivotal point. A break below this support would open the door for further downside, while a bounce from this level could maintain bullish momentum.

The 4-hour chart shows a consolidation phase between the $2.11 and $2.60 levels. The $2.40 mark is a crucial resistance point, and if XRP manages to break above this zone, a rally toward higher resistance levels could be expected. However, the price is currently trading closer to the $2.11 support, and a break below this level could lead to a bearish shift, potentially testing lower supports.

Looking at the immediate outlook, XRP faces a critical juncture. The price is hovering around the $2.00 support level, and its next move will depend on whether this level holds or breaks. If XRP manages to hold above $2.00, a short-term rally toward the $2.40 resistance could occur. However, if the price fails to hold the $2.00 level, the bearish head-and-shoulders pattern could play out, potentially pushing XRP lower, with the next target around $1.23.

The immediate price action for XRP hinges on the $2.00 support level. Traders should be cautious and closely monitor this area, as it will determine whether XRP continues its bullish momentum or experiences a downside correction. With significant volatility in the crypto market, risk management is essential for navigating these uncertain price movements.

In a bullish scenario, if XRP holds above $2.27 and breaks past $2.44, the next target is $2.50–$2.70. Conversely, if XRP loses support at $2.00, a drop to lower levels could be expected. Key levels to watch include support at $2.00 and resistance at $2.21 to $2.36. Analysts predict that the next bullish wave could start within 30 days, with a potential 62-70% rally in April. However, XRP faces bearish pressure below $2.10, with analysts predicting a downside testing to $1.79.

XRP is currently trading around $2.01, testing support at $2.07 after multiple rejections from the $2.20-$2.30 resistance zone. Analysts believe a rebound could occur if key levels hold, while others predict a rally toward $2.50 in the coming months. The Ripple vs SEC case and the potential for an XRP ETF remain crucial factors for future price action.

According to the analyst's forecast, if the trend continues, the price could break the resistance of $2.2000 and move higher. Alternatively, if the trend reverses, it could break the current support of $2.0708. XRP price outlook remains uncertain, with analysts predicting a potential surge to $3 by Q2 2025. Some expect a breakout between $5.85 and $8.07 in the coming months. The possible approval of an XRP ETF is seen as a key driver for future growth, with an 85% probability of launch in 2025. The Ripple vs SEC case has also influenced market sentiment, with the SEC dropping its appeal against Ripple. In the short term, XRP price prediction suggests that if the momentum continues, it could break the $2.20 resistance. However, a reversal could push it below $2.07 support.