XRP News Today: XRP Holds Above $2.31 as Market Awaits Catalyst for Breakout

XRP, the cryptocurrency associated with Ripple, has been trading around $2.41, with resistance levels identified near the $2.42–$2.45 range. Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have shown mixed signals, suggesting a potential sideways-to-bullish bias. Key support levels are noted around $2.38, with a breakout above $2.45 potentially opening a path to $2.50–$2.67.

The broader market sentiment remains cautiously optimistic, but buyers are awaiting a convincing catalyst to drive a breakout from the current congestion. The recent price action has been characterized by choppy movements with increasingly higher lows, compressing under the supply zone capped around $2.45. Despite brief spikes above $2.42, the price has consistently retreated, indicating a struggle to sustain higher levels.

XRP has recently shown signs of strength. Last week, it experienced a small pullback and sideways movement due to a bearish divergence. But now, the RSI indicator is moving up, suggesting this weakness might be over — especially while Bitcoin and other altcoins are bouncing back. At the moment, XRP is holding within a price range between $1.57 (April low) and $3.40 (recent high). The price has not yet shown a clear breakout in either direction. Analysts suggest this range could develop into a triangle pattern or other formations over time.

In the shorter time frame, XRP is trading between $2.15 and $2.31 as support, and $2.48 to $2.61 as resistance. The price is currently moving sideways within this range, and traders are watching for a possible breakout above $2.62. If this happens, it could be the first sign of a bigger rally ahead. As long as XRP holds above its recent Monday low, the short-term trend remains positive. There’s a chance we could see a quick jump toward the $3.30–$3.40 zone, especially if Bitcoin and the broader market continue to gain momentum.

If XRP breaks below $2.31 and then $2.28, it might suggest that the latest short-term rally has ended, and the price could drop toward the $1.79–$2.60 region before finding new support. Overall, even though XRP is currently moving within a tight range, the bigger picture remains bullish — with no major signs of a long-term top forming just yet.

Analysts have forecasted that XRP could trade between $2.30 and $2.50 during the May 23–25 period. A breakout above or below this range could set the tone for future price movements. According to the analyst's forecast, the price of XRP on May 23 is expected to be around $2.4362, with a maximum of $2.6067 and a minimum of $2.2657. For May 26, the forecasted price is $2.4116. These predictions highlight the potential for both upward and downward movements, depending on market conditions and investor sentiment.

The short-term trend for XRP remains positive as long as it holds above its recent lows. There is a possibility of a quick jump toward the $3.30–$3.40 zone, although this would require significant bullish momentum. The current price dynamics suggest that XRP is in a state of consolidation, with traders closely monitoring key levels for potential breakouts or retreats. The broader structure of the market indicates a cautious optimism, but the lack of a clear catalyst has prevented a decisive move in either direction.

In summary, XRP's price movements leading up to May 23 are characterized by a mix of bullish and bearish signals, with key support and resistance levels playing a crucial role in determining future price action. While there is potential for a breakout above $2.45, the market awaits a convincing catalyst to drive sustained upward momentum. The forecasted price range for the coming days highlights the volatility and uncertainty surrounding XRP, with both bullish and bearish scenarios possible.