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XRP Price Builds Bullish Momentum: Watch This Resistance Level Closely
Ripple’s cross-border token has been building bullish momentum in the recent quarter, with Q4 2024 and early Q1 2025 showing impressive gains. However, it seems that this growth has stalled in the following months, and XRP is currently in a consolidation phase.
Despite this, analysts are adamant that the asset can unlock major gains as long as it reclaims a key resistance level. According to their analysis, the crucial resistance level for $XRP is situated at $2.38. A conclusive breakout above this level could trigger a significant move.
Ali Martinez, a well-known analyst with nearly 140,000 followers on Twitter, determined that this pivotal level is positioned at $2.38, where XRP faced multiple rejections in the recent past. However, a clear break above it could send the token soaring, according to his analysis.
Following his lead, another prominent analyst, BitGuru, emphasized the significance of the same two major resistance lines. They pointed out that XRP was rejected at the lower level after confirming an “inverse head and shoulders” and triple bottom pattern. With XRP now testing the $2.23 support, the possibility of a surge back to $2.33 remains open as long as it can maintain its position above this point.
Elite Crypto’s analysis aligns with those of Martinez and BitGuru, emphasizing that XRP is showcasing a strong bullish setup. They highlighted that the asset has been consistently respecting horizontal support and approaching the downtrend resistance. In their opinion, a breakout from this obstacle could lead to a massive price surge for Ripple’s token, potentially reaching $3.4 or even above.
As we can see from the provided data, it is crucial to watch the $2.38 level closely.
Source: cryptopotato.com
