The price of XRP increases today, up more than 2%, currently negotiating around $ 2.30. This decision complies with a wider recovery on the cryptography market, with Bitcoin regularly climbing and Ethereum leading the pack with an overvoltage of 8%. As Ethereum rises above, many smaller altcoins like XRP follow the trend.
XRP also continues to display a bullish divergence, a signal where the price is lower, but indicators like the RSI show higher stockings. This often alludes to a possible price rebound.
XRP finds support, new target eyes
Looking at the daily graphics, XRP recently rebounded in a key support area between $ 2.00 and $ 2.10. This area has proven to be strong in the past, prices bouncing several times.
If the price falls below $ 2.00, analysts warn that it could drop to $ 1.92 to $ 1.95, and maybe as low as $ 1.80. But for the moment, the bullish momentum holds.
Bullish pattern taking shape
A positive sign for XRP is the formation of a double -bottomed pattern – also known as the WA model – on graphics. This model often signals a potential ascending escape. If this model takes place completely, the next price target would be around $ 2.44.
However, before reaching this level, XRP could cope with a certain resistance almost $ 2.35, an area that previously acted both as a support and resistance.
Long-term perspectives: could $ 5 be the next one?
XRP seems to be in the middle of a fifth wave on the rise. This wave started in April after a market correction and could possibly increase prices over $ 5.00 in the coming months, provided that current support levels are maintained.
If XRP remains above April stockings and maintains its upward structure, analysts think that the upward trend could continue. However, a breakdown lower than these main areas of support could delay the rally, which means that the market still works thanks to a correction phase.
