XRP Nears $2.50 as Charts Signal a Critical Make-or-Break Zone
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XRP/BTC is approaching 0.00003 BTC, a crucial level not seen since 2018, while XRP/USD is consolidating near $2.20, with $2.30 as a key breakout target. Analyst insights suggest the recent price movement indicates accumulation below $2.50 resistance, potentially signaling XRP's strength against Bitcoin if it closes above the Ichimoku cloud.
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- XRP/BTC is pressing 0.00003 BTC and the monthly Ichimoku cloud for the first time since 2018.
- XRP/USD is holding a controlled pullback near $2.20, with $2.30 as the key breakout level.
- Wyckoff structure shows accumulation, with the price sitting just below $2.50 resistance.
Analyst Matt Hughes claims that on the monthly XRP/BTC chart, price is trading near the 0.00003 BTC region, a level that has capped or stabilized XRP for most of the post-2018 cycle. This zone has acted as a long-term balance, not momentum.
Hughes noted that price is currently pushing above the monthly Ichimoku cloud, a level not breached since 2018. He added that only a confirmed close above the cloud would signal sustained XRP strength against Bitcoin, rather than a short-term rotation.
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