XRP Price Could Surge Another 30% If This Trend Is Confirmed

Overview

Crypto analyst ChartNerd has presented a scenario in which the price of XRP could potentially increase by 30% from its current level. This analysis comes during a challenging period for the altcoin, as it faces the risk of losing its year-to-date gains due to a recent downturn in the cryptocurrency market.

XRP Price Surge Potential

In a post on X, ChartNerd indicated that XRP could rally to $2.70 if the altcoin manages to maintain key Fibonacci (Fib) support levels and establishes a higher low. He identified three critical Fib support levels: the 0.5 level at $2, the 0.618 level at $1.99, and the 0.786 level at $1.89. ChartNerd emphasized that the $2.70 price point corresponds to the base of a descending triangle, which is significant as it marks the area from which XRP experienced a decline following a previous market crash.

ChartNerd also pointed out that XRP is currently in a falling wedge breakout pattern. This pattern is historically associated with bullish outcomes, often leading to rallies that can reach previous breakdown points. Based on this analysis, the potential exists for XRP to reach the resistance level of $2.70. Additionally, ChartNerd mentioned bullish fundamentals that could support this upward movement, including Ripple’s connections to South Korea’s tokenized infrastructure and anticipated expansion for XRP.

However, it is crucial to note that XRP’s price is under pressure due to a broader market crash, particularly driven by Bitcoin’s significant decline. Bitcoin has experienced a notable drop in the last 24 hours, which has negatively impacted XRP, causing it to fall below the significant psychological threshold of $2. This market downturn has coincided with geopolitical tensions, including recent tariffs imposed by the U.S. on certain European nations, which are expected to provoke retaliatory measures from the EU.

The Crash: A Potential Opportunity

In another post on X, ChartNerd suggested that the recent decline in XRP’s price could be viewed as a “blessing in disguise.” He referenced a liquidity pocket at $1.80 on the monthly heatmap, indicating that the recent price drop may have swept XRP into this area of sell-side liquidity. ChartNerd described this occurrence as a “clarity response,” suggesting that the downward movement could provide clearer insights into market trends.

He posited that the current price action might represent a minor setback rather than a significant retracement. Despite the overall adverse conditions affecting altcoins, ChartNerd noted that Bitcoin has not lost any crucial structural support, indicating that opportunities may still exist until a specific trendline is invalidated. If Bitcoin can hold its ground, there is potential for XRP to bounce back.

From author

The current analysis by ChartNerd highlights the complexities of the cryptocurrency market, particularly in the face of external pressures such as geopolitical events and market fluctuations. The potential for XRP to recover and even surge is contingent upon various factors, including its ability to maintain support levels and broader market conditions.

Impact on the crypto market

• XRP could experience a potential rally if it holds key Fibonacci support levels.
• The broader market downturn, particularly Bitcoin’s performance, significantly impacts XRP’s price.
• Geopolitical tensions and tariffs may influence investor sentiment and market dynamics.
• ChartNerd’s analysis suggests that current price declines might not indicate a long-term downtrend.
• Opportunities may arise for investors if Bitcoin maintains its market structure.