Analyst Crypto Michael (@MichaelXBT) has reaffirmed that XRP’s bullish structure remains intact despite recent market declines.
In his recent analysis, he pointed out that the asset continues to respect a crucial support level within a developing symmetrical price structure. While short-term fluctuations are expected, he predicts XRP will soon make a decisive move.
His assessment suggests that if XRP maintains its support line, it could trigger a rally toward new all-time highs. However, for this bullish scenario to unfold, the asset must first break above a key resistance level at $2.6.
There is still hope for new highs if it holds this purple support line
A break of $2.6 is needed to activate a move up to new ATH
Expecting more chop this week before a decisive move in March pic.twitter.com/TsLJhXOL4T
— Crypto Michael (@MichaelXBT) February 26, 2025
Recent bearish pressure from the market pushed the asset down to its current price of $2.17. However, it has shown more resilience than many other assets and a successful breach of the barrier at $2.6 could set the stage for sustained price discovery beyond its previous peak.
Market Conditions and XRP’s Position
XRP’s losses over the past few weeks have contributed to a shift in its market ranking. Y asset has dropped by almost 30% from last month, falling below USDT to become the fourth-largest digital asset. Despite this setback, analysts remain optimistic about its long-term potential.
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Crypto Michael acknowledges the recent price slump but argues that XRP’s ability to hold its current support level suggests that bullish momentum is still in play. If this structure remains intact, he expects the asset to experience upward movement soon, likely starting in March.
XRP’s Bullish Momentum
Market analyst Javon Marks (@JavonTM1) has also reinforced the positive outlook for XRP, despite its recent corrections. In a recent analysis, he noted that the asset is displaying a familiar pattern seen in its 2017–2018 cycle.
Marks highlighted a major lower price rejection observed on February 3, when XRP bounced from $1.7936 to close at $2.7024. He described this as a strong technical signal that buyers remain in control and could soon push prices higher. While bearish pressure has dominated in recent weeks, he maintains that bulls are still positioned to regain dominance.
His confidence in XRP’s upside potential aligns with his earlier forecast from other analysts, with one notable analyst suggesting the asset can reach $30. While XRP has not fully recovered, these analysts are confident that its recovery will be swift and they expect big things in its immediate future.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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