XRP has dipped 4.5% over the past week as its recent rally cools off, taking a breather after gaining strong momentum since last Wednesday.
Does this pullback invalidate a bullish XRP price prediction?
The token is currently trading at $2.31, having faced heavy resistance at $2.66. Despite the dip, trading volume has surged 72% in the past 24 hours, suggesting continued interest even as the price slides 3% on the day.
Still, XRP remains the top-performing cryptocurrency among the top 5 this year, delivering an impressive 11.4% YTD return – edging out Bitcoin (BTC), which has gained 10.3% in the same period.
Notably, Ripple announced today that two new enterprise customers have been onboarded to its payments platform in the United Arab Emirates, just a few weeks after they received a license to operate as a crypto-native payments provider from the Dubai Financial Services Authority (DFSA).
XRP Price Prediction: Price Action Bounces Off 50-Day EMA
The daily chart shows that Ripple’s price action has found support at the 50-day exponential moving average (EMA) so far during today’s session and this still favors a bullish XRP price forcast for the time being.
The price has broken the 21-day EMA, which has not been reliable support for the token for a while, but it is still trading above the 200-day EMA, meaning that the long-term trend is still bullish.
Following XRP’s breakout from its descending triangle, the price has already printed two higher highs, maintaining its bullish structure as long as it stays above the second-highest peak.
The $2.30 level remains a crucial support — as long as it holds, the uptrend stays intact and there’s minimal short-term reversal risk on the horizon.
Today’s session will be key in gauging bulls’ conviction. If late buyers step in at this level, it could mark a strong continuation point for the rally, offering a compelling entry for those eyeing further upside.
Strong trading volume at this range signals that it’s a major area of interest for market participants — making it a critical level over the coming weeks.
Should the structure break, the 200-day EMA will serve as the next major support to monitor.
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The post Can XRP Hit $3 This Week? Bulls Step In as $2.30 Holds Strong (XRP Price Prediction) appeared first on Cryptonews.
