XRP Consolidates at $2.00: Breaking $2.23 Could Lead to a Huge Surge
- XRP remains resilient, holding firm above crucial support at $2.00, with potential for a breakout if it breaks above $2.23.
- Bullish macro sentiment, fueled by expectations of Fed rate cuts, is boosting investor confidence and could benefit XRP.
- Ripples RLUSD integration and the Coinbase XRP futures listing are key catalysts that could drive XRPs price higher.
XRP is showing signs of resilience despite choppy market conditions, with the digital asset currently trading at $2.07 and holding firmly above its crucial support at $2.00. While price action remains somewhat indecisive, the technical setup and upcoming catalysts suggest a major move could be on the horizon.
Over the past 24 hours, XRP has climbed 0.89%, defying broader market weakness. While many altcoins have struggled to stay afloat, XRP continues to consolidate within a range, signaling strength and investor confidence. The cryptocurrency is currently caught between key resistance near $2.50 and firm support at $2.00, forming a tightening structure that could trigger a breakout, or breakdown, in the coming sessions.
XRP Breakout or Breakdown Ahead
According to recent insights from More Crypto Online, XRP is pressing against a key triangle trendline. However, the real momentum shift wont come until XRP breaks above $2.23, a level that could act as a springboard for a bullish surge.
Until then, the analysis noted, its stuck in chop. The downside is also being closely watched, with support levels at $1.89 and $1.77. A decisive drop below these zones could expose XRP to deeper corrections, potentially targeting the $1.20$1.55 range.
Big squeeze coming, the commentary added. Breakout or breakdown, its heating up.
Macro Sentiment Turning Bullish
Fueling optimism across the broader market is a renewed wave of bullish sentiment, especially after TRUMP commented that its the perfect time for Fed Chair Powell to cut interest rates. Rate cuts are widely viewed as bullish for risk assets, including stocks, Bitcoin, and the broader crypto market. The growing expectation of a more accommodative Fed policy could be a game-changer for digital assets like XRP.
RATE CUTS ARE COMING, TRUMP emphasized, reinforcing a shift in macro narrative. For crypto markets, this often signals increased liquidity, investor risk appetite, and fresh capital inflows, all of which could benefit XRP.
XRP Near Resistance with Bullish Catalysts Ahead
Beyond macroeconomic factors, XRPs fundamentals are also aligning for a potential breakout. Ripples upcoming RLUSD integration is expected to enhance liquidity and utility within its ecosystem, while the anticipated Coinbase XRP futures listing is already stirring excitement among traders and institutions.
Moreover, if Bitcoin continues to hold above its key levels and the market sustains its current positive trend, XRP could be among the top altcoins to watch for a strong upside move. As price action coils tighter near resistance, all eyes are on whether the bulls will finally step in to reclaim higher ground.
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Read more: https://www.tronweekly.com/xrp-consolidates-at-2-00-breaking-2-23-could-lead-to-a-huge-surge/
Text source: TronWeekly
