XRP Teeters on Critical Support—A Springboard to $2.65?

XRP bulls hold their breath as the asset flirts with a make-or-break price floor. One strong bounce could ignite a rally toward the $2.65 target—unless, of course, the 'efficient market' decides to toy with traders' emotions again.

Key levels in play: The current support zone isn't just technical—it's psychological. Break below? Panic sells. Hold and rebound? Cue the 'I-told-you-so' from crypto permabulls.

Remember: In crypto, 'key support' either means 'generational buying opportunity' or 'trapdoor to liquidation city'—depending on which side of the trade you're on.

This heavily ‘one-sided’ market exacerbates the risk of a correction heading into the first month of a relentless rally that has pushed Bitcoin (BTC) to a new all-time high.

When long/short ratios are at extremes, deep-pocketed traders know that there is significant liquidity trapped at lower price zones, where most long positions have set their stop orders. They can push the price down to unlock this liquidity and trigger a long squeeze.

However, as the price nears certain key areas of support, XRP could rapidly bounce back. This favors a bullish mid-term xrp price forecast.

XRP Price Prediction: 200-Day EMA Bounce Could Push XRP to $2.65

XRP found strong pressure at the $2.65 area after its recent rally. The price has gone down sharply upon touching that area as momentum indicators were already nearing extreme levels.

The Relative Strength Index (RSI) back then increased near the 70 level (overbought) two times.

The latest drop in XRP price has resulted in a ‘death cross’ between the 9-day and 21-day EMA and has pushed the token to tag its 200-day EMA for a second time.

The price bounced off this level once and could retest it in the next few days as it continues to follow the trajectory of its descending channel.

If XRP bounces strongly off this level as it did recently, it could form a technical double-bottom. This, combined with a breakout of the upper bound of the channel, would confirm a bullish XRP price prediction with a first target set at $2.65.

Even though XRP may have disappointed investors with its latest performance, bitcoin (BTC) continues to make the headlines by reaching higher highs.

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