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XRP has seen a sharp 25% pullback from its recent local high of $2.90, leaving investors questioning its next move. Despite the correction, many analysts remain optimistic about XRP’s potential to regain momentum, while others predict a deeper pullback before any significant rally. The market appears divided, with bulls pointing to a possible breakout and skeptics preparing for a quiet sell-off.
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Crypto analyst Harry weighed in on the discussion and shared a detailed technical analysis on X. He highlighted that XRP could target a price of $4 once it completes a deeper pullback. Harry’s analysis suggests that while bullish sentiment remains valid, the path forward could require additional consolidation or even a short-term decline to reset market conditions.
This divergence of opinion underlines the uncertainty surrounding XRP price action. Will the pullback provide a launching pad for the next rally or pave the way for prolonged bearish pressure?
As XRP approaches key levels, the coming days will determine whether bulls or bears take control. For now, XRP holders and traders should watch these movements closely as the future of the token depends on breaking this current stagnation.
Price Action Indicates Storm Before Race
XRP has recently faced a significant pullback and many analysts believe that there could be a further correction or consolidation on the horizon before a bullish continuation occurs. After reaching high levels, the token stalls and some experts predict a period of stabilization. However, the bullish camp remains hopeful and anticipates new highs in the coming months as buying pressure increases.
The best analyst Harry shared his thoughts on Xnoting that XRP has yet to retest the critical breakout level of $1.96. Currently, the price ranges between $1.96 and the 2017 all-time high of $2.77. According to Harry’s technical analysis, this positioning indicates growing bullish momentum.
Furthermore, it suggests that if XRP’s current flag formation breaks to the upside, the token could be primed for a powerful rally towards new highs.
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This analysis follows weeks of speculation about XRP’s price trajectory, especially in the wake of Bitcoin’s volatile movements. BTC has fluctuated around the psychological level of $100,000, breaking and losing it repeatedly. These conditions have added an additional layer of uncertainty to the market, leaving traders unsure of what to expect next.
XRP shows indecision
XRP is trading at $2.40, marking a 14% recovery from its recent local lows of $2.16. Despite this bounce, the token’s price action remains uncertain as market sentiment remains divided. Traders and investors are closely monitoring the next moves, with no definitive signs pointing to a bullish continuation or the formation of a cycle high.
The key levels to watch are $2.25 and $2.50. If XRP manages to hold above the $2.25 support and reclaim the $2.50 level in the near term, it could signal the start of a renewed bullish rally. This scenario would likely attract additional buying pressure, bringing XRP closer to retesting its recent highs. However, the current market indecision reflects broader uncertainty, and any failure to regain these levels could lead to further consolidation or a possible decline.
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As Bitcoin and the broader crypto market experience fluctuating trends, XRP’s next move will be critical in determining its trajectory. For now, the token remains in a delicate position and traders need to be careful and keep an eye on these fundamental price levels. Whether XRP resumes its upward momentum or undergoes a further correction will largely depend on market conditions in the coming days.
Featured image of Dall-E, TradingView chart
