Key Points:
- XRP is struggling to break the resistance at $2.35, which indicates a lack of demand at higher levels.
- Increasing chances of XRP ETF approval could catalyze the next stage of XRP growth.
Bloomberg exchange-traded fund specialists Eric Balchunas and James Seyffart estimate there’s a 95% chance the U.S. Securities and Exchange Commission will greenlight the XRP (XRP), Solana (SOL) and Litecoin (LTC) ETFs in 2025.
Can XRP price consolidation serve as a launching pad for another upward move, or will bears drag the price down? To find out, let’s examine the charts.
XRP price forecast
Buyers pushed XRP above the 50-day uncomplicated moving average (SMA) ($2.24) on Monday, but a long wick on the candlestick indicates selling at higher levels.
XRP/USDT daily chart. Source: Cointelegraph/TradingView
The 20-day Exponential Moving Average (EMA) ($2.17) is a key level to watch in the near future. If the price rebounds with force from the 20-day EMA, it increases the likelihood of a break above the resistance at $2.35. If this happens, the XRP/USDT pair could rise to $2.65.
Conversely, if price breaks and holds below the 20-day EMA, it signals that the bears are trying to take control. The pair could drop to $2.06 and later to $2. Buyers are expected to defend the $2 level with all their might as a close below that level opens the door to a fall to $1.61.
Related: XRP price predictions above $3 in 2025 have one major flaw
XRP/USDT 4-hour chart. Source: Cointelegraph/TradingView
The 4-hour chart shows that the bears are fiercely defending the $2.35 level. There is support at the 50-SMA, but if the bears prevail, the pair could fall to $2.06. This is a critical level for bulls to defend as a break below $2.06 could result in the pair falling to $2.
Conversely, if price reverses away from the 50-day SMA, bulls will attempt to push the pair towards the neckline of the inverse head and shoulders pattern. A break and close above the neck completes a bullish setup with a target target of $2.76.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
