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Ripple’s cross-border token is currently trading at a crucial level that could determine whether it shoots up by double digits or falls down. However, in the worst-case scenario, the asset could decline to $1.3.
xrpusd. Source: TradingView
Noted crypto analyst Ali Martinez has repeatedly highlighted the importance of the $2 support for XRP’s future price movements. The asset has tested this level several times over the past month, experiencing two dips since March 11.
Nevertheless, it ultimately withstood the pressure, helping XRP maintain its best performance since the U.S. elections in early November. Furthermore, the Ripple token exhibited impressive resilience following the March 11 crash, surging to $2.6 over the following week.
After the company’s CEO Brad Garlinghouse, the price spike was attributed to the announcement that the lawsuit against the SEC had effectively concluded.
However, since then, XRP has failed to regain its momentum, sliding below $2 earlier this week, down 24% amid the escalating trade war.
As mentioned, the $2 support remains strong, and XRP is now trading at $2.15. Martinez believes that maintaining this level could serve as a springboard for the next phase, potentially raising its price by 30%.
If $xrp can hold above the critical $2 level, the next channel towards the upper boundary of $2.60 could shift by 30%!
– ali (@ali_charts) April 5, 2025
However, he also emphasized a bearish scenario where $2 proves detrimental. In this case, due to XRP’s explosive surge in November and December of last year, there isn’t much support between these two levels, and the fourth-largest cryptocurrency by market cap could drop to $1.3.
$xrp is breaking out of a head and shoulders pattern, laying the groundwork for a potential move to $1.30!
– ali (@ali_charts) April 4, 2025
Despite this, Martinez maintains an overall bullish outlook on XRP, as recent TD Sequential flashing buy signals appear on the daily chart.
