Rounded Bottom Pattern in XRP Price: Recovery Signal or Correction Threat?

Jakarta, Pintu News – The price movement of XRP XRP->Current XRP PriceRp 0Market Cap-Trading Volume-Circulating Supply- throughout late 2024 to early 2025 shows the tough challenges for investors of this cryptocurrency. After breaking the price level above Rp50,985 ($3 equivalent), XRP experienced several significant drops. As a result, the XRP price lost almost 50% of its peak value in that period.

Nevertheless, this condition has not completely faded optimism among the crypto community. Many analysts and market participants are still predicting a potential increase in the price of XRP going forward. This is mainly driven by the technical patterns that are starting to form and attract the attention of market observers.

Potential Rounded Bottom Pattern on XRP

A crypto analyst on the X platform (formerly Twitter) recently raised new hope regarding XRP’s price outlook. He identified the formation of a rounded bottom pattern in XRP’s price movement chart, a technical formation that is often associated with the end of a downward trend.

Currently, XRP is still moving in a descending channel. This formation usually indicates a bearish tendency in the short term. However, interestingly, the price of XRP is now starting to approach the lower trend line of the pattern, which previously served as a strong support area.

This support is expected to withstand selling pressure and open up opportunities for price recovery. In addition, the rounded bottom formation that is developing within the channel reinforces the potential for trend reversal.

Also Read: Solana’s Whale Movement and Selling Pressure: What is the Impact on Crucial Support Levels?

Important XRP Support and Resistance Levels

In the latest analysis, the main support level for XRP is estimated to be around IDR27,192 ($1.6 equivalent). Until now, this level is still holding up quite well and is a bounce area for market participants who want to re-enter. Based on the analysis, the best entry area for crypto investors is in the price range of IDR28,891 to IDR31,440 (equivalent to $1.7 – $1.85).

If the price of XRP manages to stay above this support and starts an upward movement, then the next price target is in the range of IDR33,990 to IDR37,389 (equivalent to $2 – $2.2). Successfully breaking through this resistance level will strengthen the bullish signal and open up opportunities for movement towards new highs like the one that occurred in January 2025.

Target Price If Bullish Trend Forms

If the bullish scenario is successful, there are three main price targets that crypto market participants are expected to focus on. These targets are IDR39,725 (equivalent to $2.3385), IDR47,865 (equivalent to $2.8160), and IDR56,005 (equivalent to $3.3062).

These targets reflect the potential for significant upside for XRP to approach or even surpass previous highs. However, all of this is highly dependent on the bulls’ ability to defend key support levels and drive positive momentum in the market.

Correction Risk Remains for XRP Price

Although the latest analysis shows bullish potential, the risk of XRP price correction remains to be watched out for. The support level of IDR27,192 (equivalent to $1.6) is key for buyers to maintain positive momentum. If this support level fails to be maintained, then the potential for a deeper price drop could occur.

The next area of support is estimated to be around IDR22,093 ($1.3 equivalent). This correction could happen if there is a massive sell-off or a sudden shift in liquidity in the crypto market. However, with the re-emergence of buying sentiment among investors, it is possible that the bullish scenario remains the dominant scenario in the near term.

Conclusion

The price movement of XRP (XRP) is currently in an important phase that could determine the direction of the next trend. The formation of a rounded bottom pattern signals the potential for price recovery in the short term. However, the risk of correction must still be considered, especially if the main support level fails to be maintained. In a dynamic crypto market, strategy and vigilance remain key for investors in dealing with XRP price movements going forward.

Also Read: Can Dogecoin (DOGE) Price Reach $100? Check out the Technical Analysis!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Best Owie/NewsBTC. XRP Price Forms Rounded Bottom, Is A Bullish Reversal In The Works?Accessed April 11, 2025.
• Featured Image: Track Insight