XRP Nears Crucial $2.13 Support – Bulls Must Hold or Risk Freefall

XRP teeters on the edge as traders eye the make-or-break $2.13 level—slip below it, and the ’next stop’ might be a painful reckoning for over-leveraged optimists.

Market whispers suggest a relief rally hinges on defending this zone—because nothing says ’crypto stability’ like praying for a line in the sand to hold. Meanwhile, Wall Street quietly sips champagne, watching digital assets replicate traditional finance’s volatility with extra steps.

Scalp Setup Tips XRP For $2.25 Price Target 

In an X post on May 30, CasiTrades outlines a XRP trade set up that presents a potentially lucrative short-term trading opportunity.

Notably, the analyst explains that XRP decline to its 0.118 Fibonacci retracement level at $2.196 has pushed into a familiar price region for short-term scalp trades. Based on CasiTrades’ analysis, the perfect entry zone for many investors lied at $2.20, with a price target of $2.253 at the 0.236 Fibonacci retracement level acting as the take-profit zone.

The analyst explains that this is scalp setup that operates on the high chance of securing quick price relief. Therefore, a price surge to $2.253 is not indicative of impending price reversal.  However, in the presence of strong bullish momentum, XRP is well-poised to MOVE beyond $2.253 with potential targets set at $2.333, $2.395 and $2.456. 

Notably, CasiTrades has identified the stop-loss for this trade set-up at $2.13. The analyst explains that market bulls must prevent a decisive price fall below this level as it WOULD neutralize the validity of the entire scalp trade setup. In such a negative scenario, the altcoin is likely to experience further price decline with the next major support set around $1.77.

XRP Price Overview

At press time, XRP trades at $2.14 following a significant 4.86% decline in the past one day and 3.01% in the past thirty days. Meanwhile, the asset’s daily trading volume has increased by 57.32% suggesting a surge in selling pressure in relation to the ongoing price crash. 

Based on its daily trading chart, XRP lies below its 200-day moving average indicating there is strong potential for the altcoin to maintain a downward trajectory and invalidate CasiTrades’ scalp relief projection. Meanwhile, the token’s Relative Strength Index currently stands at 36.47 and is headed for the oversold region which could potentially trigger a price rebound to around $2.30.

With a market cap of $125.04 billion, XRP continues to rank as the fourth-largest cryptocurrency.  Interestingly, market analyst with X username Crypto V backs the altcoin’s bullish  potential projecting a market cap of $790 billion before 2025 runs out.

Featured image from Pexels, chart from Tradingview