XRP has been struggling in recent weeks, shedding roughly 35% of its value amid broader market turbulence. However, some analysts believe that a major recovery could be on the horizon—provided the cryptocurrency maintains a critical support level. If the current price floor holds, XRP could be primed for a significant 50% rally, offering hope to investors who have endured its recent decline.
XRP’s Recent Price Struggles
The last month has been rough for XRP holders, with the asset facing significant downward pressure. Several factors have contributed to this downturn, including macroeconomic uncertainties, ongoing regulatory concerns, and a lack of strong bullish momentum in the broader crypto market.
Despite its struggles, XRP has managed to stay above a key support zone that has held firm multiple times since December 2024. Market analysts suggest that as long as this level remains intact, a strong upward move could soon follow.
Technical Indicators Point to a Possible Rebound
Crypto analyst Egrag Crypto has been closely monitoring XRP’s price movements and remains optimistic about its recovery potential. He highlighted that XRP is currently trading just above a crucial support zone slightly below the $2.00 mark.
“This is a bullish signal, indicating that buy orders are stacked in this critical region,” Egrag Crypto noted. He pointed out that XRP has repeatedly tested this support level, with buyers stepping in to defend the price every time it nears this zone.
According to his analysis, if this support continues to hold, XRP could see an explosive upward move. The key resistance levels to watch are $2.20, $2.60, $2.80, and $3.10. Breaking through these levels could pave the way for a 50% price increase, potentially pushing XRP above $3.00.
Market Sentiment and Broader Crypto Trends
The potential for a bullish reversal in XRP is not solely based on its chart patterns. Broader market conditions will also play a crucial role in determining whether the asset can regain its lost value.
Investor sentiment across the crypto market has been mixed, with Bitcoin and Ethereum experiencing choppy price action. However, some signs of recovery are beginning to emerge, particularly as institutions show renewed interest in digital assets. If the overall crypto market gains traction, it could provide additional fuel for an XRP rally.
On the regulatory front, XRP’s association with Ripple has been a double-edged sword. While Ripple’s legal battles with the SEC have created uncertainty, some investors believe that a favorable resolution could send XRP’s price soaring. With regulatory clarity expected later this year, traders are keeping a close eye on any developments that could impact XRP’s trajectory.
Will XRP Deliver a Strong Comeback?
While XRP’s recent performance has been disappointing for many investors, history has shown that major support levels often act as springboards for significant rallies. The key question now is whether XRP can sustain its current position long enough for buying pressure to build up.
If the anticipated breakout occurs, a 50% price surge would put XRP back in a much stronger position, restoring confidence among traders and potentially attracting fresh capital into the market. However, failure to hold its support level could result in further declines, putting XRP at risk of dropping below $2.00.
For now, all eyes are on the charts as traders wait to see whether XRP’s next big move will be to the upside—or if further downside is still in store.