The price of Ripple’s XRP might soon be in for a large price surge, with analysts forecasting a potential leap to $6.5, almost a 200% rise from its current position.
New technical indications and the bullish trend of Bitcoin are putting analysts and traders on high alert for XRP’s next direction.
A crypto analyst by the Cryptarch_ on TradingView has posted a detailed chart indicating that XRP is creating a Descending Triangle, which typically precedes significant breakouts.
He also indicated a shift in the RSI (Relative Strength Index), which had been declining for months but has now begun to rise. This indicates momentum is turning in favor of buyers, indicating a potential bullish trend.
Cryptarch_ has posted a trading plan: buy XRP at $2.10, and set a stop-loss at $2.00. This configuration reflects confidence in the uptrend while capping potential losses if the market goes against the trade.
In his price chart, Cryptarch_ has mapped out a multi-step rally for XRP where the price will increase while it tests out multiple key resistance levels indicated by horizontal purple lines. These are crucial levels at $2.49, $3.00, and $3.39.
Among them, the $3 level is fundamental, as XRP recently experienced a significant rally at that price level on March 2, 2025. Being able to break and hold above $3 would make it a very solid support area, positioning for another move to the $6.5 target.
The analyst is projecting XRP to surge to $6.5, with a marginally higher possible target of $6.82. However, he advises closing at $6.5 in order to profit safely before the next solid resistance point is encountered.
One date to keep an eye on is Saturday, May 10, 2025. That’s the day when XRP can either break above the $3 resistance and move higher, or get rejected and drop back to $1.61. This date could determine whether the bullish thesis occurs or is pushed further back.
Bitcoin’s performance is also crucial here. If BTC remains higher at $89,000, it might pump the overall altcoin market. Currently, Bitcoin is already trading at $91,872, which favors the scenario of XRP and other coins following suit in a general market rally.
Also Read: Will XRP Price Skyrocket Under New SEC Chair Paul Atkins?
