XRP News Today: XRP Rebounds 1.93% to $2.20, Eyes $2.30 Resistance

XRP, the cryptocurrency associated with Ripple, has shown signs of bullish momentum in recent days. The price recently rebounded sharply from a crucial support zone between $1.92 and $1.95, an area that has held for weeks. This rebound pushed the price back above a previous support-turned-resistance area at $2.07. Currently, XRP is testing a new resistance range between $2.19 and $2.20. If bulls can flip this area into support with a decisive candle close, it could open the door to higher moves in the short term.

The next major resistance lies between $2.30 and $2.35. A confirmed breakout above this range could push XRP back into a familiar sideways trading zone seen earlier this year. Analyst Josh of Crypto World is also watching for a possible inverse head and shoulders pattern forming on the daily chart, a bullish setup that could trigger if XRP rallies towards $2.30, pulls back to $2.10, and then bounces again. If this plays out and breaks above $2.35, it would be a strong bullish signal for further upside.

On the downside, the critical level to hold remains the April low. A drop below that point would weaken the bullish outlook and potentially extend the current corrective wave lower. If that happens, the next strong support would be around $1.21. A potential trend channel is also forming, with its upper boundary sitting near $2.45. A clean break above this trendline would be an early sign of a market shift in favor of the bulls.

XRP is at a make-or-break point. A breakout above $2.20 and especially $2.35 could revive bullish momentum and potentially take the token to $5 in this market cycle. But if support levels fail, expect further downside pressure before any major recovery.

XRP has been on a steady climb, consolidating near $2.1833 after a sharp reversal from $1.96 last week. The recovery is supported by structural reclaim and bullish market conditions. The token's recent performance has sparked interest among traders, who are now considering the possibility of a breakout. As of today, XRP is trading around $2.20, approaching a key resistance level.

The daily overview for June 25 shows a current price of $2.20, with a 24-hour change of +1.93%. The Relative Strength Index (RSI) stands at 64.05, indicating positive momentum without being overbought. Volume is moderate and upward ticking, suggesting growing interest in the token. The $2.00 level acted as solid support during the weekend dip, and buyers came in strong. Now, the token is making another run at the $2.30 resistance, which has been a tough barrier this month.

The XRP chart pattern on the daily chart resembles a textbook Wyckoff “spring” setup. XRP briefly dipped below support, then popped back into the range with strength. The long lower wick followed by green candles shows that buyers quickly took control. If XRP price manages to break above $2.30 with strong volume, it could push up toward $2.50 pretty quickly. However, if it struggles to break through again, there’s a good chance it’ll just keep bouncing around between $2.00 and $2.30 for a bit longer.

Technical indicators on the daily timeframe are all aligned in the buy zone. The Moving Average Convergence Divergence (MACD) shows a bullish crossover with upward momentum. The Average Directional Index (ADX) indicates strong trend strength, supporting the bullish trend. The Commodity Channel Index (CCI) is bullish, with the price well above average. The Relative Strength Index (RSI) shows positive momentum, and the Rate of Change (ROC) indicates that the price is gaining speed. The Bull/Bear Power index shows a bullish bias, with buyers leading the market.

In the bullish scenario, if XRP can close the day above $2.30 with solid volume behind it, that could clear the way for a move to $2.50 and maybe even higher after that. In the neutral scenario, if the price stays between $2.00 and $2.30, XRP price is likely to continue consolidating inside this range, awaiting a catalyst. In the bearish scenario, if XRP drops below $2.00, that could spark some selling, with the price possibly sliding down to $1.85 or even $1.75.

XRP price has bounced back from last week’s drop and is now testing a key level. With momentum building and every indicator on the bullish side, it’s a “wait and see” moment. All eyes are on the $2.30 zone. If XRP clears it with conviction, the next leg higher might not be far off. But until then, we’re likely still in range-bound territory.