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Market Direction

XRP - Technical Analysis

Published: May 8, 2025

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XRP has been trapped inside a broad range since December 2024, with price compressing into a pennant on the daily chart. With a downside deviation already played out, it remains neutral until a breakout confirms direction.

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Next Support: $2.07

Next Resistance: $2.35

Direction: Neutral

Upside Target: $2.58

Downside Target: $1.96

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Cryptonary's Take

XRP has been ranging inside a broad range since December 2024, with brief deviations on both ends, the top in January and the bottom in April. Currently, it's compressing inside a pennant on the daily chart, signaling an imminent move. With $2.07 acting as short-term support and $2.35 as resistance, a break on either side will define the next trend. Until then, the bias remains neutral and uncommitted, but resolution is near.

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