Price Movement and Trends
Initial Consolidation (August 2024 - November 2024):
XRP starts the chart trading sideways around $0.50 to $0.60. This period shows low volatility with small candlesticks, indicating a lack of strong directional momentum. It suggests a consolidation phase where buyers and sellers were in balance.
Breakout and Uptrend (Late November 2024 - January 2025):
Around late November 2024, XRP breaks out of its consolidation with a sharp upward move. The price surges from $0.60 to a peak of around $4.00 by early January 2025, a massive increase of over 500% in a short period.
This rally is characterized by large green candlesticks, indicating strong buying pressure. The consistent higher highs and higher lows confirm a strong bullish trend.
Volume likely increased during this period (though volume bars aren’t visible), as such a significant price move typically requires high participation.
Peak and Correction (January 2025 - February 2025):
XRP reaches a high of approximately $4.00 in early January 2025, followed by a sharp correction. The price drops to around $2.50 by mid-February 2025, a decline of about 37.5% from the peak.
This correction is marked by large red candlesticks, showing strong selling pressure. The drop suggests profit-taking by traders who entered during the earlier rally, possibly triggered by overbought conditions (though no RSI or similar indicators are visible to confirm this).
Stabilization and Recovery Attempt (February 2025 - March 2025):
After the correction, XRP stabilizes between $2.50 and $3.00. The price shows smaller candlesticks and some consolidation, indicating a pause in the downtrend.
Toward early March 2025, XRP attempts a recovery, climbing back to $2.837 by March 13, 2025. The smaller green candlesticks in this phase suggest cautious buying, but the momentum isn’t as strong as the earlier rally.
Key Levels and Support/Resistance
Support: The $2.50 level acted as a support during the correction in February 2025. This level held multiple times, indicating buyers stepping in to defend it.
Resistance: The $4.00 level was a significant resistance, as it marked the peak of the rally before the correction. If XRP attempts another upward move, this level may act as a barrier.
Current Price: At $2.837, XRP is trading above the recent support but far below its January peak, suggesting it’s in a consolidation phase with potential for either direction.
Technical Observations
Volatility: The chart shows periods of both high and low volatility. The rally in November-December 2024 was highly volatile, while the consolidation phases (August-November 2024 and February-March 2025) show lower volatility.
Trend: The overall trend from November 2024 to March 2025 is bullish, despite the correction. The price is still significantly higher than its starting point in August 2024.
Candlestick Patterns: The large green candles during the rally and large red candles during the correction indicate strong momentum in both directions. The smaller candles in March 2025 suggest indecision in the market.
Potential Scenarios
Bullish Case:
If XRP breaks above $3.00 with strong volume, it could signal the start of another uptrend, potentially retesting the $4.00 resistance.
A move above $4.00 could open the door for new all-time highs, especially if market sentiment for cryptocurrencies remains positive.
Initial Consolidation (August 2024 - November 2024):
XRP starts the chart trading sideways around $0.50 to $0.60. This period shows low volatility with small candlesticks, indicating a lack of strong directional momentum. It suggests a consolidation phase where buyers and sellers were in balance.
Breakout and Uptrend (Late November 2024 - January 2025):
Around late November 2024, XRP breaks out of its consolidation with a sharp upward move. The price surges from $0.60 to a peak of around $4.00 by early January 2025, a massive increase of over 500% in a short period.
This rally is characterized by large green candlesticks, indicating strong buying pressure. The consistent higher highs and higher lows confirm a strong bullish trend.
Volume likely increased during this period (though volume bars aren’t visible), as such a significant price move typically requires high participation.
Peak and Correction (January 2025 - February 2025):
XRP reaches a high of approximately $4.00 in early January 2025, followed by a sharp correction. The price drops to around $2.50 by mid-February 2025, a decline of about 37.5% from the peak.
This correction is marked by large red candlesticks, showing strong selling pressure. The drop suggests profit-taking by traders who entered during the earlier rally, possibly triggered by overbought conditions (though no RSI or similar indicators are visible to confirm this).
Stabilization and Recovery Attempt (February 2025 - March 2025):
After the correction, XRP stabilizes between $2.50 and $3.00. The price shows smaller candlesticks and some consolidation, indicating a pause in the downtrend.
Toward early March 2025, XRP attempts a recovery, climbing back to $2.837 by March 13, 2025. The smaller green candlesticks in this phase suggest cautious buying, but the momentum isn’t as strong as the earlier rally.
Key Levels and Support/Resistance
Support: The $2.50 level acted as a support during the correction in February 2025. This level held multiple times, indicating buyers stepping in to defend it.
Resistance: The $4.00 level was a significant resistance, as it marked the peak of the rally before the correction. If XRP attempts another upward move, this level may act as a barrier.
Current Price: At $2.837, XRP is trading above the recent support but far below its January peak, suggesting it’s in a consolidation phase with potential for either direction.
Technical Observations
Volatility: The chart shows periods of both high and low volatility. The rally in November-December 2024 was highly volatile, while the consolidation phases (August-November 2024 and February-March 2025) show lower volatility.
Trend: The overall trend from November 2024 to March 2025 is bullish, despite the correction. The price is still significantly higher than its starting point in August 2024.
Candlestick Patterns: The large green candles during the rally and large red candles during the correction indicate strong momentum in both directions. The smaller candles in March 2025 suggest indecision in the market.
Potential Scenarios
Bullish Case:
If XRP breaks above $3.00 with strong volume, it could signal the start of another uptrend, potentially retesting the $4.00 resistance.
A move above $4.00 could open the door for new all-time highs, especially if market sentiment for cryptocurrencies remains positive.
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XRP +10% upside which is crazy after all, SEC has officially dropped it’s Ripple
XRP lawsuit.Note
The United States Securities and Exchange Commission’s multi-year enforcement action against Ripple is finally coming to an end, according to the company CEO.“This is it — the moment we’ve been waiting for. The SEC will drop its appeal — a resounding victory for Ripple, for crypto, every way you look at it,” Ripple CEO Brad Garlinghouse wrote on X on March 19.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.