XRP Price: Why Traders Are Still Eyeing $3 Despite Recent Volatility

TLDR

XRP price fell from over $2.5 to around $2.3 last week Price turned green on Sunday after four red daily closes A bullish trend line has formed at the $2.355 support level Current trading is below the 100-hourly Simple Moving Average and $2.40 Market analysts expect continuation of the bullish trend despite correction

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XRP has faced a challenging week as prices retreated from above $2.5 to the $2.3 range. This pullback has left many traders wondering if the cryptocurrency’s recent momentum has stalled or if this is merely a temporary setback in a larger upward move.

The price action began turning negative last Wednesday. XRP closed in the red for four consecutive days, creating some concern in the market.

However, Sunday brought some relief as XRP posted a green close, breaking the downward streak. This pattern is worth noting, as market data shows XRP hasn’t had more than four consecutive red daily closes since August 2024.

This consistent pattern may indicate the market is maintaining its structural integrity despite short-term volatility. The green Sunday close could suggest buyers are stepping back in after the brief correction.

One crypto market expert has pointed out that while the correction shows red candles, the overall advance remains green with consolidation in the blue zone. This technical assessment suggests the cryptocurrency remains in a bullish consolidation phase rather than entering a new bearish trend.

XRP Price

Support and Resistance

From a technical standpoint, XRP is currently facing several key levels that traders are watching closely. The price is trading below the $2.40 level and the 100-hourly Simple Moving Average, which indicates short-term bearish pressure remains.

A key support level has formed at $2.355, with a connecting bullish trend line visible on hourly charts. This support coincides with the 61.8% Fibonacci retracement level of the recent upward move from $2.299 to $2.449.

This technical confluence makes the $2.355 area particularly important for the short-term outlook of XRP. If this level holds, it could provide the foundation for XRP’s next move higher.

The cryptocurrency recently attempted to climb above $2.35 but encountered resistance near the $2.45 zone. A high point was established at $2.4495 before prices retreated once more.

Looking at immediate resistance levels, XRP faces hurdles at $2.40, followed by stronger resistance at $2.45. If bulls can push the price above $2.50, further targets would include $2.60, $2.65, and potentially $2.80 in the coming weeks.

#XRP continues consolidating but guess what? So far more than 60% growth since 7-April. So it is rising but doing so slowly. At some point, it will break up strong.

Patience is key.

» More #Altcoins & #XRPUSDT 👇https://t.co/L3HBvVJDyS

Namaste. pic.twitter.com/MbiKwgjU1D

— Master Ananda (@anandatrades) May 17, 2025

On the downside, if support at $2.355 fails to hold, the next level to watch would be $2.32. A breach below this threshold could potentially send XRP toward deeper support at $2.20 or even $2.12.

Technical indicators currently show mixed signals. The hourly MACD is gaining momentum in the bearish zone, while the RSI remains below the 50 level. These indicators suggest that short-term weakness may continue before a reversal occurs.

Despite these short-term challenges, market analysts maintain a target of $3 for XRP, suggesting the current correction is just a pause in the larger bullish trend.

Market Perspective

The current consolidation phase for XRP may test the patience of traders. As one market expert explained, the price “can grow slowly but surely for months and then boom, out of nowhere a sudden jump.”

This pattern of extended consolidation followed by explosive moves is common in cryptocurrency markets. What appears as sideways movement can often be accumulation before the next leg higher.

The expert emphasized that despite the seemingly slow pace, the price “is growing daily and that’s what is most important if you are holding this coin.” This perspective highlights the importance of looking beyond day-to-day fluctuations when assessing XRP’s market position.

For traders and investors watching XRP, the key consideration now is whether the price can maintain position above the crucial $2.355 support level. As long as this threshold holds, the bullish case for XRP remains intact despite the recent correction.

The four-day red close pattern followed by a green day suggests the market may be following a rhythmic pattern that has been established over several months. If this pattern continues, XRP could be preparing for another move upward.

Traders will be closely monitoring volume patterns and order book data to gauge whether buying interest returns at these lower price levels. Increased buying volume would confirm that the correction was indeed temporary.

The most recent price data shows XRP trading just above its key support level but still below the important $2.40 resistance zone. The coming days should provide clearer direction on whether bulls or bears will take control of the next move.

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