XRP News Today: XRP Targets $2.40 Resistance, Eyes $2.70-$2.90 Breakout

XRP, the cryptocurrency associated with Ripple, is currently approaching a critical resistance level around the $2.40 mark. According to crypto analyst XRPunkie, the digital asset appears poised to breach this level, supported by encouraging weekly chart patterns and a favorable Relative Strength Index (RSI) setup. XRPunkie highlighted that XRP is currently testing the $2.40 resistance and anticipates a potential breakout soon. The analyst points to the strength shown on the weekly charts and notes that the RSI is on the verge of crossing, suggesting bullish momentum. Should XRP successfully break through this resistance, XRPunkie identifies the next significant levels at approximately $2.70 to $2.90. Beyond that, XRP could target the $5 to $8 range, with potential extensions to as high as $10 to $13.

Ask Aime: "Should I buy XRP before it breaks through its resistance at $2.40?"

XRPunkie’s latest forecast aligns with his earlier analysis from May 1, 2025, in which he described a “beautiful bull pennant” forming on the weekly chart. At that time, he projected a pullback to the $1.80 to $2.00 range before a substantial breakout. The technical target for this bull pennant, according to XRPunkie, could see XRP reaching between $13 and $14, although he cautioned that there would likely be additional pullbacks along the way. The concept of a bull pennant in technical analysis is typically associated with continuation patterns that follow a significant upward price movement. If XRP maintains its bullish posture and breaks out from this pattern, it could confirm a long-term upward trend. XRPunkie’s focus on the $2.40 resistance zone is particularly noteworthy because a successful breach could signal renewed buying interest and a push toward higher levels.

The positive sentiment around XRP is not without merit. Recent developments, including Ripple’s progress in regulatory clarity and increased institutional interest, have boosted confidence among investors. Furthermore, XRP’s ability to hold above the $1.80-$2.00 support range has reinforced bullish sentiment, as buyers appear resilient even during pullbacks. However, caution is warranted. XRP’s history of volatility means that any breakout attempt could face resistance, leading to short-term fluctuations. Traders should be mindful of potential corrections, especially if the asset fails to maintain momentum above key resistance points.

XRP’s approach to the $2.40 resistance zone has the community watching closely, as a successful break could open the door to a much higher valuation. XRPunkie’s analysis offers valuable insights, pointing to both short-term resistance levels and long-term targets. As always, investors are advised to exercise caution, especially given the unpredictable nature of the crypto market. The technical landscape for XRP is complex, with various resistance levels and potential reversal points. Technical analysis indicates that XRP could face resistance near $2.25, even if a breakout occurs. This suggests that while a breakout is possible, the path forward may not be straightforward. The emergence of a classic bull flag pattern, as noted by crypto analyst cw, adds another layer of complexity. This pattern, which has been observed after months of consolidation, could signal a significant rally if XRP manages to break through the resistance.

The current price of XRP is above the $2.35 mark, with bulls aiming to break through critical resistance levels. This momentum is crucial as it could pave the way for a potential all-time high. The key resistance level at $2.5 is particularly significant, as a breakout above this point could spark a strong rally toward the $3 mark. This scenario is supported by the observation that XRP has completed a key technical breakout and is now entering the fifth and final wave of a broader bullish pattern, according to the analyst's forecast. However, it is important to note that the path to a potential rally is not without challenges. The analyst's forecast suggests that XRP could battle with resistance near $2.25, or reverse to retest this level even when there's a breakout. This highlights the need for caution and careful monitoring of the market dynamics. Despite these challenges, the overall sentiment remains bullish, with analysts predicting that the real bull rally is about to begin. The gradual, consistent gains observed in XRP's price movement further support this optimistic outlook.