TLDR
- XRP price crashed from above $2.5 to around $2.3 in the past week
- Despite four consecutive red daily closes, the price turned green on Sunday
- Analysts believe bullish continuation is still likely despite the correction
- A bullish trend line is forming with support at $2.355
- Price is currently trading below $2.40 and the 100-hourly Simple Moving Average
The XRP cryptocurrency has experienced a significant downturn over the past week, with prices falling from above $2.5 to approximately $2.3. This correction has raised concerns among investors about whether the bullish momentum for XRP is fading or if this is merely a temporary setback.
According to crypto analyst Master Ananda, the recent price movements don’t necessarily signal the end of XRP’s upward trajectory. Despite several days closing in the red, the overall trend remains positive with bullish consolidation still in play.
#XRP continues consolidating but guess what? So far more than 60% growth since 7-April. So it is rising but doing so slowly. At some point, it will break up strong.
Patience is key.
» More #Altcoins & #XRPUSDT 👇https://t.co/L3HBvVJDyS
Namaste. pic.twitter.com/MbiKwgjU1D
— Master Ananda (@anandatrades) May 17, 2025
The price correction began last Wednesday when XRP started trading downward. The cryptocurrency continued this downward movement for four consecutive days, a pattern that has become somewhat regular since August 2024. Interestingly, XRP hasn’t experienced more than four red daily closes in a row during this period, suggesting a consistent underlying pattern.
Sunday brought a change in direction with a green daily close, potentially indicating that buyers are returning to the market. This fits with Master Ananda’s assessment that while the correction appears bearish, the advance remains green and consolidation continues in the blue zone.
Technical Analysis
From a technical standpoint, XRP is currently trading below the $2.40 level and the 100-hourly Simple Moving Average, indicating short-term bearish pressure. However, there is a connecting bullish trend line forming with support at $2.355 on the hourly chart.
This trend line coincides with the 61.8% Fibonacci retracement level of the upward move from the $2.299 swing low to the $2.449 high, making it a potentially strong support area. If this support holds, it could serve as a launching pad for the next leg up.
The price recently attempted to climb above the $2.35 zone but faced resistance near $2.45. A high was formed at $2.4495 before prices retreated.
Looking at resistance levels, XRP will likely face obstacles at $2.40, followed by more substantial resistance at $2.45. If bulls can push above $2.50, the next targets would be $2.60, $2.65, and potentially $2.80 in the coming weeks.
On the downside, if XRP fails to maintain support at $2.355, the next key support level sits at $2.32. A break below this could potentially send prices toward $2.20 or even $2.12.
The hourly MACD indicator is currently gaining momentum in the bearish zone, while the RSI (Relative Strength Index) is below the 50 level, suggesting short-term weakness continues.
Despite these short-term challenges, Master Ananda maintains that the target from current levels remains $3, as XRP is expected to continue moving through its consolidation phase before making another move higher.
Master Ananda notes that while the wait for the next bullish advance might be “long and boring,” the price is still “growing daily,” which is ultimately what matters for long-term holders of the cryptocurrency.
The current price action suggests that XRP is in a period of consolidation rather than a full reversal of its bullish trend. This consolidation phase could extend for some time before the next significant price movement occurs.
As one analyst put it, “It can grow slowly but surely for months and then boom, out of nowhere a sudden jump.” This pattern of slow accumulation followed by rapid price appreciation is common in cryptocurrency markets.
For now, XRP traders and investors will be watching the key support level at $2.355 closely. As long as prices remain above this threshold, the bullish case for XRP remains intact despite the recent correction.
The most recent price data shows XRP trading at $2.38, slightly above its key support level but still below the important $2.40 resistance zone.
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