The inclusion of XRP in the crypto strategic reserve is seen as a significant move that could strengthen the platform. Following this development, the price of XRP experienced a substantial increase, breaking through resistance levels at $2.27 and $2.89. However, the bears managed to regain control around $3, leading to a rejection and a decrease of more than 20% after the confirmation of tariffs on Canada & Mexico.
Currently, the bulls are working hard to push the price above the previous day’s close, but the bears are exerting strong pressure, keeping the price below $2.35. The question now is what comes next? Will XRP lose support at $2 or reclaim its dominance and reach immediate resistance?
Despite initially breaking above lower highs and lows, the rejection caused XRP to fall back into the same pattern. The bears are currently dominating the market, signaling bearish trends for the cryptocurrency. It is anticipated that entering the demand zone will attract significant liquidity needed to push the price above $2.8. However, with technical indicators turning bearish, lower target zones between $2 and $1.96 are now in play.
The daily XRP chart indicates that the bulls are defending the local support at $2.272, but in a broader perspective, the bears seem to be gearing up for a significant price movement. The price has reached the lower bands of the Gaussian channel, which have turned bearish. A break below this range could signal a further decline in price. Additionally, the MACD, currently in the negative range, is on the verge of a bearish crossover after a minor bullish trend.
As a result, XRP remains under strong bearish pressure and could potentially drop to $2 or slightly below. However, a rise above $2.5 may delay the bearish momentum, while a surge above $2.8 could negate the bearish outlook. Recent developments such as the dropping of SEC investigations and lawsuits against various crypto platforms have sparked speculation about a potential resolution of the SEC lawsuit involving XRP.
Analysts and XRP supporters believe that a resolution may still be a couple of months away, and until then, the price is expected to maintain a slow but steady upward trend.
