XRP threatened to plummet to IDR32,588? Here’s the latest technical analysis!
Jakarta, Pintu News – The price of XRP is currently under pressure after the formation of a bearish technical pattern that indicates further downside potential. Despite positive news, such as the launch of an XRP futures ETF and potential adoption by the US government, the price has yet to show a significant response.
Head-and-Shoulders Pattern Indicates a Decline
Technical analysis shows that XRP has formed a head-and-shoulders pattern on the four-hour chart since May 9, 2025. This pattern, which consists of three peaks with the middle peak higher, often signals a trend reversal from bullish to bearish. Confirmation of the pattern occurred when the price broke the neckline at $2.33 on May 19, 2025.
Following the breakout, selling pressure increased, supported by a decrease in open interest in XRP futures contracts. This suggests that traders are starting to lose confidence, reinforcing the bearish signal of the technical pattern.
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Key Support and Resistance Levels
Currently, XRP is facing strong resistance around $2.40 (IDR38,305), while key support is at $2.00 (IDR32,588). If the price fails to hold above these support levels, a potential further drop to $1.81 (IDR29,519) could occur. Conversely, if the price manages to break the resistance, the opportunity to return to the uptrend is open.
Other technical indicators, such as Moving Average and RSI, are also showing bearish signals. Declining trading volumes add to concerns of a potential further price drop.
Fundamental Factors Not Driving Prices
Despite positive news, such as the launch of an XRP futures ETF on Nasdaq and potential adoption by the US government, the price of XRP has not shown a significant response. This may be due to profit-taking by long-term investors and selling pressure from previously locked tokens.
Additionally, although Ripple has settled a lawsuit with the SEC, regulatory uncertainty still looms over the crypto market in general. These factors may restrain the potential price gains in the short term.
XRP’s Long-term Outlook
Some analysts remain optimistic about XRP’s long-term prospects, with price predictions reaching $8 ($130,352) by the end of 2025. However, to reach that target, XRP needs to break through key resistance levels and show more solid fundamental strength.
Investors are advised to closely monitor technical and fundamental developments before making investment decisions. High volatility in the crypto market demands vigilance and good risk management strategies.
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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. Crypto trading activities are subject to 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:
- Cointelegraph. XRP price risks falling to $2 after classic bearish chart pattern confirms. Accessed May 30, 2025.
- Featured Image: CoinMarketCap
