XRP is holding steady at $2.30 after a slight 1% dip, but analysts believe a breakout is near. With strong support intact and bullish signals flashing, XRP could be gearing up for its next big rally.
Analysts Spot Key XRP Bottom
Crypto analyst Steph claims XRP has already hit its bottom and is preparing for a surge. The altcoin dropped to $1.90 on March 11 before rebounding. Now trading around $2.29, its price action suggests a bullish setup.
Steph’s prediction relies on historical RSI movements. He noted that XRP’s Relative Strength Index (RSI) had been in a two-month downtrend, forming a falling wedge. Recently, the RSI broke out, a signal that previously triggered major price reversals. A similar setup in November 2024 led to a 6X surge in XRP.
With this breakout, Steph confidently stated, “XRP bottom is in. Send it higher.” He believes XRP will not drop below $1.90 and could soon enter a strong rally.
Steph also pointed out XRP’s Wyckoff Re-accumulation pattern, a formation that signals strong hands absorbing supply before a big move. XRP has traded within this range since late 2024, following its massive rally after Donald Trump’s re-election. After peaking at $3.4 in January, XRP entered a consolidation phase between $2 and $3.3.
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However, XRP must hold above $1.90-$2 on weekly and monthly charts to maintain its bullish setup. If it does, Steph remains confident in a breakout.
Key Levels to Watch
A daily candle close above $2.9 would confirm the breakout. XRP attempted this move on March 2, surging to $2.9 after Trump’s reserve announcement, but a broader market downturn triggered an 18.83% drop, stopping momentum.
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Despite this, Steph remains bullish. He highlights the weekly Stochastic RSI, which is nearing a bullish crossover, a signal that previously led to major surges. He predicts XRP could jump 500%, reaching $13-$14, or in a stronger scenario, $30.
Meanwhile, EGRAG Crypto emphasizes $2.22 as solid support. He noted that XRP’s fractals are aligning, hinting at a big move. With the weekend ahead, traders are watching $2.9 closely. A break above could signal a major rally.
