XRP (XRP) Price: Is This Pullback the Springboard for a $12 Surge?

XRP's recent dip has traders buzzing—could this be the calm before the storm?

After a sharp correction, the digital asset shows signs of consolidation. Market watchers are eyeing key resistance levels, with some predicting a potential rally to $12 if bullish momentum returns.

Technical indicators suggest the pullback may be healthy profit-taking rather than a trend reversal. Liquidity pools around current levels hint at institutional accumulation.

Of course, in crypto-land, 'fundamentals' are just something you yell before dumping your bags on retail traders.

TLDR

• XRP price recovered above $2.10 but failed to maintain levels above $2.20, reaching a high of $2.215 before correcting
• Technical analysis shows bullish trend line support at $2.080 with key resistance at $2.20 and $2.250 levels
• Analyst CryptoInsightUK suggests the pullback from April highs may be nearing completion
• Potential downside targets include $1.85-$1.89 liquidity zones if broader market weakness continues
• Long-term price targets of $8-$12 projected if current support levels hold and bullish pattern emerges

XRP price action has shown mixed signals as the cryptocurrency attempts to build momentum above the $2.10 level. The digital asset started a fresh increase from the $2.050 zone but has struggled to maintain gains above the critical $2.20 resistance.

The price recovered above key resistance levels at $2.020 and $2.080 before clearing $2.150 and briefly spiking above $2.20. However, selling pressure emerged at these higher levels, with XRP reaching a peak of $2.215 before correcting lower.

Current technical indicators show XRP trading above $2.150 and the 100-hourly Simple Moving Average. A bullish trend line has formed with support at $2.080 on the hourly chart.

The 23.6% Fibonacci retracement level of the upward MOVE from $1.910 to $2.215 continues to provide support. This level has helped prevent deeper declines despite the recent pullback from highs.

Resistance and Support Levels

The immediate resistance remains at the $2.20 level, which has proven difficult to break convincingly. Above this, the first major resistance sits at $2.220, followed by $2.250.

A clear break above $2.250 could open the path toward $2.320 resistance. Further gains might target $2.350 or even $2.420 in the NEAR term, with $2.50 representing the next major hurdle for bulls.

On the downside, initial support is located near $2.150. The next major support level sits at $2.080, which aligns with the bullish trend line.

A break below $2.080 could trigger further declines toward $2.020 support. This corresponds to the 61.8% Fibonacci retracement level of the recent upward move.

Deeper support exists near the $1.950 zone if selling pressure intensifies. Technical indicators show the hourly MACD losing pace in the bullish zone while the RSI remains above the 50 level.

Analyst Perspective on Broader Pattern

Prominent trader CryptoInsightUK has provided analysis suggesting the current pullback may be part of a larger corrective structure that began in early April. The analyst believes XRP is “really flipping close” to completing this correction.

The trader expects Bitcoin to potentially grind lower toward $92,000-$95,000 levels, which could drag major altcoins including XRP with it. This scenario could see XRP test liquidity zones around $1.89 or potentially $1.85 on a wick.

However, the analyst views deeper declines toward $1.60-$1.55 as unlikely, calling this scenario “not my base case.” The focus remains on accumulation zones where spot demand has been clustering on successive declines.

Evidence of “real accumulation rather than derivative games” has been observed through increased spot bids following recent sell-offs. Funding rates across major venues have turned modestly positive, indicating traders are positioning long.

The analyst is watching for a bullish divergence pattern where price makes a marginally lower low while the 4-hour RSI prints a higher reading. This setup previously preceded April’s 140% rally in XRP.

If current support levels hold and the expected pattern emerges, price targets of $8 initially and potentially $11-$12 in an over-extension scenario have been projected. From a potential $1.85 entry point, this represents upside of approximately 475%.

At press time, XRP was trading at $2.1781, maintaining its position above key support levels while facing resistance at higher levels.