TL;DR

Ripples cross-border token has struggled in the past week, alongside most of the market, and has dropped below a crucial support line, which has now turned into resistance. Analysts outlined a couple of different scenarios for the asset, which envision a price drop below $2 or a surge to $4.5.

Is XRP Actually Heading for New ATH?

The fourth-largest cryptocurrency surged in mid-May as the rest of the market recovered from the Trump-induced crash in early April. However, it couldnt rise any higher than $2.6, where it was halted on a couple of occasions, while BTC managed to break through and chart a new all-time high of almost $112,000. Ethereum also outperformed XRP on a monthly scale, as the latters price seems stuck.

Moreover, the asset fell below $2.3 in the past few days, a level that many analysts highlighted as a crucial support, now turned into a key resistance. Cryptowzrd noted that XRP closed indecisively the week, but pointed out the $2.21 resistance as the first obstacle in the assets long road to recovery. However, if it manages to reclaim it, this could form an inverse head-and-shoulders, which could result in offering a long opportunity.

CW believes XRPs turn has come, and suggested that the asset is expected to break through the current small convergence. If this pattern plays out, XRPs next price target can be $4.5, which would mean a massive surge past the January 2018 all-time high of around $3.4.

$XRPs turn has come.

It briefly broken the upper line of the convergence in the short-term correction, but the price recovered rapidly.

And the uptrend that signals the end of the retest is imminent. This time, it is expected to break through that small convergence.

The… pic.twitter.com/hVIpU4xueP

The Bearish Scenario

While the aforementioned scenarios provide a more optimistic outlook for XRPs future price movements, Brett wasnt so bullish. The analyst told their over 90,000 followers on X that Ripples token is currently at a critical breakdown point.

It has dropped below key EMAs and is currently testing the 200 EMA. If it fails to remain above it, XRP could be on its way to the $2 support or even lower. They urged the bulls to step in now, or there will be more pain ahead for XRP.

$XRP is at a critical breakdown point!

Price has slipped below key EMAs and is now testing the 200 EMA.

Failure to hold here could drag XRP toward $2.00 or lower.

Bulls must step in NOW — or we head further down.

#XRP #Ripple #Crypto pic.twitter.com/6ygu7ZlAVI