XRP Bulls Eye $2 as Support Zone Becomes Key Battleground
XRP has been on a tear recently, surging by 52% in just one week. According to Cryptoinsightuk, the token may have what it takes to reach $2 if bulls defend a key support zone.
The analyst notes that XRP's recent move off recent lows has created a range of interest at $1.36-$1.43, which has been repeatedly defended by buyers following the altcoin's dip to $1.70. This could potentially establish a series of higher lows, with the latest consolidation being the beginning of a higher-low structure.
Cryptoinsightuk also warns that XRP is not immune to explosive price swings, citing 2017, 2021, and 2024 as examples where the token's price action became 'extremely aggressive'.
In fact, if XRP produces another weekly candle similar to last week, Cryptoinsightuk believes it could already be trading above $2. However, he stresses that his strategy has been to dollar-cost average during weakness in preparation for an explosive recovery, and not to chase green candles.