XRP News Today: XRP Rebounds 2.35% to $2.24 as VivoPower Invests $100M

XRP, the cryptocurrency associated with Ripple, has shown signs of a potential upward trend as it rebounds above $2.20, with analysts and investors eyeing a push toward the $2.35 resistance level. This rebound comes amidst a backdrop of significant investor sentiment boosted by VivoPower's commitment of $100 million in XRP. The investment by VivoPower, adopting XRP as part of its official treasury reserve, marks a major vote of confidence in the cryptocurrency.

Ripple CEO Brad Garlinghouse refuted rumors of an acquisition of Circle, providing much-needed clarity. Ripple, now in its 8th year, continues to show purpose-driven leadership, having deployed $200 million toward social good initiatives. These developments have sparked renewed optimism in XRP’s market outlook.

The market cap for XRP now stands at $131.85 billion, reflecting a 2.19% rise in the past 24 hours. The 24-hour price range between $2.19 and $2.28 shows a rebound from local lows, and technical traders are watching closely as XRP retests key moving averages. On-chain data supports this optimism. Exchange inflows remain moderate, suggesting limited sell-side pressure. Additionally, wallets holding between 1M to 10M XRP have slightly increased holdings, indicating whale confidence at current levels.

XRP is currently priced at $2.24, up 2.35% over the past day. After dipping to $2.1279, the price has risen back above key support levels. The 9-day SMA is hovering around $2.22, which now acts as a dynamic support zone. If XRP builds momentum, it could revisit resistance near $2.3496. However, it is worth noting that with the RSI at 46.42, the trend remains neutral to slightly bearish in the short term.

If XRP fails to sustain above $2.20, it could invite renewed selling pressure, potentially pulling the price back to the $2.1279 support. But any sideways trend above this mark could pave the way for a stronger bullish move by mid-June.

Veteran market technician Gert van Lagen highlighted a years-long double bottom structure that could signal a bullish breakout. This pattern, which resembles a "W" shape, formed over seven years and has two distinct bottoms. The first bottom occurred when XRP collapsed from its all-time high of $3.8 in January 2018 to a floor price of $0.1140 by March 2020. The second bottom materialized when XRP slumped from its high of $1.96 in April 2021 to another floor price of $0.2870 in June 2022. XRP's recovery to the $2 mark in December 2024 sealed the second formation, creating a neckline at the $2 price level.

A break above this neckline is often seen as a bullish signal, and XRP did indeed break above it in December 2024, soaring to a high of $3.4 by January 2025. However, the asset faced resistance at this level and retraced back to the $2 mark, where it has been retesting the neckline support since February. To maintain its bullish structure, XRP must defend the $2 mark, which represents the neckline. As long as this structure remains intact, the double bottom pattern could lead to a significant price explosion.

Van Lagen has set a target of $38 for XRP, marking a 1,604% increase from the current price of $2.23. He insists that this target is conservative, given historical precedent. When XRP witnessed a similar double bottom structure from December 2013 to April 2017, the post-breakout rally was more parabolic than what it would witness from here to $38. Despite this more parabolic run, the previous double bottom took less time to form, with just over three years.

Several other analysts have also predicted a possible run to the $30 range. For instance, market watcher EGRAG suggested in February that XRP could claim $34. Additionally, wealth mentor Linda Jones mentioned last November that XRP’s 4-year cycle could push the asset to $33. These predictions, along with Van Lagen's analysis, suggest that XRP has the potential for significant growth in the coming months.

However, XRP holders remain on edge as key milestones approach. The asset must break the $2.50 resistance level to avoid a drop to $1.76 in June. As of early June 2025, XRP is navigating a critical juncture in its price trajectory. A bullish scenario would see the price break above $2.2634, targeting $2.2821–$2.3000. Conversely, a bearish risk could see the price retest the support level near $2.2765, with further decline expected from there.

In summary, XRP's price prediction for June 4, 2025, is influenced by its recent rebound above $2.20 and the potential for a bullish breakout from a years-long double bottom structure. While analysts have set ambitious targets for the asset, XRP must defend key support levels and break resistance to realize its full potential. Investors and traders will need to closely monitor the evolution of these key levels to make informed decisions.