XRP has captured the crypto market’s attention with its impressive performance and signs of continued bullish momentum. Currently trading just below $1.40, XRP has seen minor setbacks in the last 24 hours, dropping by 4.35% to hit a low of $1.296, according to Coinmarketcap. Despite this dip, the overall technical setup continues to point toward a potentially explosive upward movement, with analysts predicting a price surge to $1.90 in the near future.
This optimism is supported by a remarkable rally earlier this month. XRP surged from $0.4976 on November 3 to a three-year high of $1.60 on November 23—a staggering 220% increase in just 20 days. Such a rapid ascent is rare even in the volatile world of cryptocurrencies, and it has reignited investor confidence in XRP’s long-term potential.
A Brief Correction: Bullish Momentum Intact
After reaching its peak at $1.60, XRP entered a correction phase, pulling back nearly 20% to consolidate near the $1.40 mark. Such corrections are typical after sharp rallies, often serving as a healthy reset before the next leg up.
On November 24, XRP demonstrated the strength of this trendline, bouncing off support at $1.2775 to retest the $1.54 level. This pattern, characterized by sharp recoveries from support zones, reinforces the bullish narrative surrounding XRP. If the trendline continues to hold, analysts believe XRP could resume its uptrend and reach its next major target at $1.90.
The Bearish Scenario: A Test of Support at $1.32
While the current market sentiment leans bullish, traders must also consider the possibility of a downside scenario. A daily close below $1.38, a key support level, could invalidate the bullish thesis and lead to further declines. Should this happen, the next significant support lies at $1.32.
A move below $1.32 would not only signal weakening bullish momentum but also raise concerns about a deeper correction. In such a case, XRP could revisit lower support zones, potentially retesting $1.20 or even $1.10, depending on market dynamics.
For now, the focus remains on the $1.38 level. As long as XRP holds above this mark, the bullish narrative remains intact, with the potential for another leg up.
The Road to $1.90 of XRP’s: What Needs to Happen?
For XRP to reach $1.90, several conditions must align:
- Sustained Buying Pressure: A consistent influx of buyers is necessary to overcome resistance levels and maintain the uptrend.
- Positive Market Sentiment: Broader market trends will play a crucial role in XRP’s journey. A bullish environment in the crypto market will likely support XRP’s upward trajectory.
- Regulatory Clarity: Any positive developments in Ripple’s legal battles could serve as a catalyst for XRP’s price.
- Breaking Key Resistance Zones: Clearing the $1.52 to $1.62 range is essential for XRP to build momentum toward $1.90.
As it stands, XRP holds its place as one of the most intriguing cryptocurrencies in the market. Whether it surges to $1.90 or faces temporary setbacks, XRP’s performance in the coming days will undoubtedly be a focal point for investors and analysts alike. For now, all eyes are on the $1.38 support level and the critical resistance zones ahead. Will XRP defy expectations and continue its upward march? Only time will tell.
Related news: Ripple Fuels Fairshake PAC to $103M, Strengthening Crypto Advocacy
