XRP Price Struggles to Hold Crucial Support: Whats Next for Ripple Coin?

The global crypto market cap was 0.7% to $3.31 trillion during writing. Having said that, the recent plunge has sparked discussions among traders about whether XRP is losing its momentum.

Analyst Highlights Crucial Price Levels for Short-Term

Talking about the short-term targets, analyst CasiTrades has highlighted the key XRP price zones that the investors should watch ahead. According to the expert, Ripple coin is at a critical point now.

Also, she highlighted the importance of holding the $2.16 support level. CasiTrades noted that after reaching the $2.30 resistance, XRP price pulled back to retest the $2.18-$2.16 consolidation zone.

According to her analysis, a hold above this level would confirm the bullish trend, potentially paving the way for the next extension wave. Meanwhile, the analyst cited the “signs of seller exhaustion” and “RSI divergence”, indicating the pullback might be a buying opportunity.

XRP Price Analysis | Source: CasiTrades, X

So, if XRP stabilizes and reclaims the $2.25 support level, it could then target $2.69, $3.04, and beyond. However, she also warned that a breakdown below $2.16 could lead to a deeper downside and trend reset, potentially targeting the $1.90 support level.

What Lies Ahead for Ripple Coin？

Despite the recent XRP price‘s struggle to hold a key support level at $2.18, analyst EGRAG CRYPTO remained optimistic on the potential future movements of Ripple coin. In a recent X post, the analyst has outlined potential targets for XRP based on a classic ’W pattern.

The three targets set by him are $15, $22, and $40 in conservative, average, and optimistic scenarios, respectively. However, EGRAG CRYPTO emphasizes the importance of strategic profit-taking and risk management.

XRP Price Prediction | Source: EGRAG CRYPTO, X

He advised investors to secure profits along the way and not to rely solely on predictions. The analyst also highlights the need for the XRP price to break out of a descending channel, with a target to close above $2.40.

Considering all these aspects, it appears that Ripple coin must breach the $2.25 and $2.4 levels ahead to continue its run towards the north. However, investors should tread cautiously, as losing the $2.16 support could further drag down the price to below $2.