XRP Holds Above $2 Trendline for Nearly Five Months
XRP investors are monitoring a key price level this week, with Bitcoin above $100,000 and Ethereum over $2,300. XRP has seen a slight increase but remains in the lower $2 range. It has consistently held above a crucial horizontal trendline at $2.
Historical Context
- XRP surged from $0.0055 to $3.80 in March 2017.
- It peaked at $3.80 in January 2018 before falling below $2 shortly after.
- The $2 level served as resistance for nearly seven years.
Recent Developments
- XRP broke above the $2 trendline in December 2024 amid a bullish market.
- This marks the longest period XRP has maintained this level historically.
Analyst Insights
- Analyst "Guy on the Earth" suggests that staying above $2 could lead to higher prices.
- He predicts a target of $5.30 and recommends traders consider profit-taking at that point.
Market Considerations
- Ripple's ongoing legal battle with the SEC and regulatory changes will impact XRP’s performance.
- Traders should watch for volume spikes around the $2 mark; a drop below $1.80 may invalidate current bullish setups.