XRP Maintains Crucial Support Level, Historically Causing Price Surge; Possibility of Reaching $2.9 Strengthens.
XRP Price Analysis: Bullish Channel Formation and Potential Price Surge
The XRP price has demonstrated resilience, maintaining its position above the significant support level at $2, signaling the ascendancy of bulls. This robust showcase of bullish momentum comes following a weekend drawdown, reinforcing the claim that a bullish surge is imminent.
Crypto analyst VIPROSE has highlighted an intriguing bullish channel structure forming on the XRP price chart. This channel, which has been sustained throughout the market decline, is crucial as the altcoin has managed to hold the midline support at the 0.618 Fibonacci level. Historically, this level has proven to be a catalyst for bullish recovery in XRP.
The bullish channel's significance lies in the strong support already established by the bulls. With these foundations in place, it is more probable that the XRP price will attempt to break through resistance levels at the upper end rather than retest support levels.
To achieve this, the XRP price needs to surpass $2.4, a level that has presented substantial resistance, as evident from last week's price rise and subsequent bearish trend. As long as the price maintains key support levels at $2.18-$2.22, which correspond to the crucial 0.618 and 0.786 Fibonacci levels, a bullish continuation appears likely.
If the projected bullish continuation materializes, the XRP price could witness an initial 10% move, followed by a progression towards its peaks recorded in January. Based on the height of the channel structure, a break from the current position might propel the XRP price to $2.9206, signifying a 20% rise and a precursor to testing new all-time highs.
However, it is essential to monitor volume confirmation for a valid bullish setup, as the XRP price must remained above the key support levels for the predicted trend to endure.
Regarding the recent activities of Bitcoin whale James Wynn, he initially opened a $1 billion long position at 40x leverage on May 21, 2025. This position was liquidated on May 28, 2025, with an entry price of $109,550 and a liquidation price of $106,870, resulting in a substantial unrealized loss indicative of a market downturn. Subsequently, Wynn opened another $1 billion short position. Although these positions have a significant impact on Bitcoin, their direct effect on the XRP market remains undetermined due to market sentiment and cryptocurrency correlations.
In conclusion, the XRP price shows potential for a sustained bullish trend, with the formation of a bullish channel and key resistance levels providing opportunities for further price recovery. Stay tuned for updates on volume confirmation and the XRP price's progress towards new highs.
Investors may find it opportune to consider XRP as its price trajectory indicates a potential surge, given the bullish channel formation. Should the XRP price break through the resistance level at $2.4, a 10% move could initiate, followed by a progression toward the peaks recorded in January,pushing the price up to $2.9206 and potentially beyond, assuming volume confirmation is achieved and key support levels are maintained.
