XRP is currently striving to regain the $2.00 mark, but the question remains: can it reach $2.50 in the near future? Despite positive news surrounding Ripple and significant inflows into newly established XRP ETFs in the United States, the asset”s performance has yet to reflect this optimism.
Recently, well-known crypto analyst Ali Martinez indicated that XRP has generated a bullish signal according to the TD Sequential indicator. However, this signal is contingent upon XRP maintaining a price above $1.90, which has been identified as a critical threshold for the asset”s future trajectory. Martinez noted, “TD buy signal on $XRP, but everything hinges on $1.90. Hold it, and $2.50 comes into play.”
If XRP can sustain its position above this pivotal level, analysts believe it may have the potential to surge towards $2.50. However, to achieve this, XRP must navigate through three significant sell walls positioned at $2.10, $2.15, and $2.25. This price point of $2.50 was last seen just over a month ago, shortly before the introduction of the first XRP ETF, Canary Capital”s XRPC. Since then, the token has experienced a downward trend, currently hovering around $2.00, despite nearly $1 billion in net inflows into five ETFs and Ripple”s ongoing partnerships and regulatory endorsements.
Martinez has been actively analyzing XRP”s market dynamics. Prior to his recent post about the TD Sequential, he cautioned that if XRP fails to hold above $2.00, it could plummet to as low as $1.20. On a more granular level, analyst CryptoWZRD observed that XRP closed “slightly bearish” despite reclaiming most of its weekly losses. However, the analyst also emphasized the necessity for XRP to break through the $2.10 resistance for a bullish outlook, warning that it risks further declines if this barrier is not overcome.
