XRP’s price action is approaching a critical juncture at the $2.69 resistance level, with technical analysis suggesting this price point could determine the cryptocurrency’s trajectory for the remainder of May 2025. Recent analysis had projected a potential 40% rally to $3.57, but first, bulls must overcome this key technical barrier.
XRP Price Shows Strong Momentum Despite Resistance
The digital asset has demonstrated remarkable strength in May, gradually building momentum toward the upper $2.60 range. On May 12, XRP touched $2.63 before experiencing a minor pullback to its current trading level of $2.57, representing a 4% gain in the last 24 hours. The recent surge in trading activity and strong buying pressure suggests accumulation continues despite short-term resistance.
Technical Analysis Points to Critical $2.69 Level
Crypto analyst CasiTrades has identified the $2.69 price point as a crucial resistance level, representing the 0.236 Fibonacci retracement from XRP’s all-time high. This level has proven to be a significant barrier since December 2024, with multiple failed breakout attempts.
Key Technical Indicators and Market Structure
- Momentum indicators remain relatively muted despite recent gains
- Completion of a 5-wave Elliott Wave pattern
- Strong underlying demand evidenced by controlled price appreciation
- Multiple support levels established below current price
Potential Scenarios and Price Targets
Two primary scenarios are emerging for XRP’s price action:
Bullish Scenario:
- Breakout above $2.69 could trigger rally toward $3.00
- Daily close above resistance would invalidate bearish pressure
- Strong volume could accelerate momentum toward higher targets
Bearish Scenario:
- Rejection at $2.69 could lead to consolidation phase
- Support at $2.30 (0.382 Fibonacci level) provides safety net
- Healthy reset could strengthen long-term uptrend
FAQ Section
What makes the $2.69 level so important for XRP?
This price point represents the 0.236 Fibonacci retracement level from the all-time high and has acted as a major resistance zone since December 2024.
What are the key support levels if XRP faces rejection?
The primary support level is at $2.30, which coincides with the 0.382 Fibonacci retracement level.
What technical indicators support further upside potential?
The controlled price appreciation, strong underlying demand, and completed Elliott Wave pattern suggest potential for continued upward momentum.
At time of writing, XRP trades at $2.57, maintaining its position as one of the top-performing cryptocurrencies in 2025. The next few days will be crucial as the market decides whether to push through the $2.69 resistance or take time to consolidate recent gains.