The XRP price has had a tough time in recent weeks. The price fell by about 35%, mainly due to market uncertainty. Nevertheless, some analysts think there is a good chance of recovery, as long as XRP remains above an important support level. If it holds that support, the price could possibly rise by 50%.
Why the XRP price fell so sharply
The past month has been difficult for people who own XRP. The price took a beating for various reasons. The global economy is uncertain, there are still legal problems surrounding Ripple, and the entire crypto market lacks strong bullish signals.
Yet XRP remains above an important price level. This level, which has often served as support since December 2024, is now particularly important. Analysts say that as long as the XRP price remains above this zone, there is a good chance of a strong increase.
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Important resistance of the Ripple rate
According to analyst Egrag Crypto, the XRP rate is now just above a crucial support zone. This is just below $2.00. Egrag says that there are many buy orders in this zone. This means that there are always buyers who protect the price as soon as XRP approaches this level.
His analysis shows that if the support holds, XRP could rise quickly. Important resistance levels are around $2.20, $2.60, $2.80 and $3.10. If XRP breaks through these limits, the price could rise more than 50%. That could possibly bring the XRP price above $3.00.
Technical analysis is not the only factor that influences the XRP price. The broader market also has a lot of influence. The prices of Bitcoin and Ethereum have been fluctuating wildly recently. This leaves many altcoins, including XRP, vulnerable.
Can the XRP price recover?
Yet there is hope for recovery. More and more large investors, such as institutional parties, are showing renewed interest in crypto. If the entire market picks up, it could give extra support to the XRP price.
Another important factor is Ripple’s legal battle with the SEC. This process has been causing uncertainty around XRP for a long time. Some investors think that a positive verdict could cause the XRP price to rise considerably. If clarity is finally provided later this year, it could have major consequences for the price.
If XRP does indeed break out, the price could quickly rise by 50%. That would make the price a lot stronger in a short period of time. But if XRP drops below the support, the price could quickly fall further and even drop below $2.00.
