- XRP faces short-term pressure near $1.40–$1.41 support before potential bounce.
- CME gap near $1.70 may act as a liquidity target before larger pullback forms.
- Long-term bullish trend persists, with accumulation supporting $5–$7 mid-channel target.
XRP’s price action is drawing attention this week as analysts weigh bullish potential against short-term downside risks. As of press time trading at $1.44, XRP has gained 4.13% in the past 24 hours, yet it remains down nearly 6% over the last seven days.
With a circulating supply of 61 billion tokens and a market capitalization exceeding $88 billion, XRP continues to attract both technical traders and long-term investors. Several market experts have shared contrasting perspectives, highlighting the importance of key levels and trends in determining XRP’s near-term trajectory.
XRP’s CME Gap at $1.70 Draws Liquidity
ChartNerd highlights a potential move toward a CME gap near $1.70. Besides, this level may act as a magnet for price before any larger pullback develops. Consequently, traders monitor this zone as a likely liquidity sweep target.
Additionally, the market previously aimed for a rally toward $1.80 and $2.00 during March. However, the current structure suggests hesitation around those levels. Therefore, the price may revisit lower liquidity before attempting another breakout.
Short-term structure shows increased volatility across intraday charts. Hence, liquidity grabs and stop hunts could dominate near resistance zones. Moreover, this behavior often precedes stronger directional moves.
$0.87 Downside Scenario Forms
Crypto Analyst CasiTrades identifies a corrective wave structure forming. A breakdown below the consolidation trendline suggests a possible move toward $0.87.
Traders are watching $1.51–$1.55 as a continuation zone. Meanwhile, a break below $1.40 could confirm stronger downside momentum.
A move above $1.65 would invalidate the bearish outlook and shift momentum back to the upside.
Long-Term Channel Targets $5–$7
Another analyst, CW8900, highlights a rising channel structure supporting a long-term bullish outlook. Repeated bounces from the lower trendline suggest accumulation.
Support between $1.00 and $1.10 strengthens the broader structure. If momentum builds, XRP could target mid-channel levels between $5 and $7.
Source: CW8900
Resistance near $2.00 and $3.50 remains important before a larger breakout. Until then, XRP may continue trading within a volatile range.
Related: XRP Faces Downside Risk as Analysts Warn of Drop to $0.80
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Source: https://coinedition.com/xrp-price-prediction-0-87-drop-or-2-rally-ahead/
