TLDR
- XRP currently trading at $2.28-$2.33, consolidating after a 2-3% decline
- Analyst EGRAG CRYPTO predicts potential $70 price target based on technical analysis
- Multiple analysts forecast bullish momentum with targets between $2.60 and $30
- Head-and-shoulders pattern identified on weekly chart, targeting $3 if $2 support holds
- Trading volume jumped 60% to $4.21 billion despite price decline
XRP, Ripple’s native cryptocurrency, is currently showing mixed signals after a period of consolidation. Despite a small price decline over the past day, many analysts remain optimistic about its future prospects, citing technical patterns that suggest room for growth.
As of March 18, 2025, XRP is trading at approximately $2.28, down 3.18% over the past 24 hours according to CoinMarketCap data. However, this price dip comes amid increased trading activity, with volume jumping 60% to $4.21 billion.
The cryptocurrency is currently testing the middle Bollinger Band at $2.33, which could act as a pivot point for future price action. If buyers can establish this level as support, XRP might retest the $2.50 level in the near term.
One key technical development is the formation of a head-and-shoulders pattern on the weekly chart. According to analyst Ali Martinez, this pattern points to a potential move toward $3, but only if XRP maintains support at the critical $2 level.
Should XRP fail to hold the $2 mark, Martinez warns that the next support level would be around $1.25. This potential downside scenario reflects the current uncertainty in the broader crypto market.
$XRP is shaping up a head-and-shoulders on the weekly chart. It spotlights the $2 support. Holding it is crucial. pic.twitter.com/icoVFwbBB9
— Ali (@ali_charts) March 17, 2025
The Relative Strength Index (RSI) on the daily chart reads near 47, suggesting that XRP may experience a short-term pullback or consolidation period. However, if the RSI breaks above the 50 level, it could signal renewed bullish momentum.
On the more optimistic side, analyst “STEPH IS CRYPTO” has identified a double-bottom formation in XRP’s price chart. This pattern, which often precedes major price increases, has already seen XRP break through its neckline resistance.
Analyst suggests XRP could reach as high as $30
Based on projections from this pattern’s height, the analyst suggests XRP could reach as high as $30 during the next bullish market cycle. This would represent a massive increase from current price levels.
Even more ambitious is the forecast from analyst EGRAG CRYPTO, who recently shared a detailed analysis pointing to a potential $70 price target for XRP. He emphasizes that this prediction is based on technical cycles and mathematical models rather than mere speculation.
EGRAG CRYPTO’s analysis involves studying previous market cycles, analyzing the current cycle, applying percentage formulas to price movements, assessing potential corrections, and confirming targets with technical indicators.
Another analyst, Dark Defender, shares a similar bullish outlook but with more conservative targets. He predicts XRP will first move toward $2.42, with the “real momentum” beginning once XRP breaks above the Ichimoku Cloud resistance.
Dark Defender has identified support levels at $2.22 and $2.04, with a higher price target of $5.85 if bullish momentum continues. These levels provide important guideposts for traders watching XRP’s price action.
The primary correction on the weekly, daily frame and 4-hour structure is over for #XRP.
There will be more minor ups and downs; we check daily in detail. XRP has started Wave 1 with an aim of $5.85.
Supports: $2.30, $2.22
Resistances: $3.39, $5.85The upcoming weeks will be… pic.twitter.com/ygUK3mJhux
— Dark Defender (@DefendDark) March 17, 2025
Rose Premium Signals, yet another crypto analyst, notes that XRP appears to be breaking out of a descending channel pattern. Based on their trading strategy, they suggest an ideal entry range of $2.20-$2.40.
Their short-term targets are set at $2.60, $2.85, and $3.10, while medium-term price objectives reach $3.36 and $3.87. They recommend a stop-loss at $2.00 to manage downside risk.
Continued institutional interest
One of the fundamental factors potentially supporting XRP’s price is continued institutional interest. Recent data shows that XRP recorded an inflow of $1.8 million from institutional funds, even as other cryptocurrencies like Bitcoin experienced outflows.
However, not all indicators are positive. Data from CoinGlass showed that Open Interest for XRP Futures declined by almost 5% to $3.17 billion as of March 17, reflecting some hesitation in the market.
The recent decline in XRP’s price came amid broader market weakness, with Bitcoin facing pressure due to rumors of insider trading. This highlights how XRP’s price action is still connected to overall crypto market sentiment.
As XRP attempts to reclaim the 20-day Exponential Moving Average (EMA) at $2.34, traders will be watching closely to see if the cryptocurrency can maintain its position above key support levels and validate the bullish patterns identified by analysts.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
