A trading expert has suggested that XRP’s current technical setup may be signaling the asset’s next record-high target.
According to prominent online analyst Master Ananda, XRP is well-positioned for a more upside move following its consolidation at around the $2.30 level.
In an analysis shared in a TradingView post on May 27, he noted that the $2.30 support has remained strong since May 17, having been tested multiple times, indicating solid demand at that price point.
Ananda also identified a symmetrical breakout from a falling wedge pattern, followed by a rising channel formation. These developments suggest that XRP could enter the next leg of its upward move.
He also highlighted Fibonacci extension levels as a key indicator, with the 2.618 extension placing the potential top of the bullish wave at $6.29.
XRP’s price timeline to $6
While the analyst did not provide an exact timeline for when XRP might reach this target, he suggested a parabolic rally could unfold in the coming weeks or months.
However, he cautioned that the window for entering at lower prices may close quickly, possibly within just a few hours or, at most, a few days.
In a separate analysis also published on May 27, market watcher Egrag Crypto shared key XRP price levels to watch. He noted renewed bullish momentum, with the asset eyeing resistance at $2.61 and $2.65 levels that could pave the way for the next phase of the rally.
According to Egrag, XRP remains technically supported and continues to hold above a key trendline breakout. He also pointed out that investor sentiment appears to be improving.
Should XRP break above the $2.65 level, it could quickly push toward $3.10, with $3.39 identified as the “golden resistance zone.”
XRP price analysis
As of press time, XRP was holding firm above the $2 support level, trading at $2.34, a modest 0.14% gain in the past 24 hours. The token also showed a slight increase of 0.4% on the weekly chart.
Looking ahead, key levels to watch include the $2 support and the $2.50 resistance zone. A drop below $2 could open the door to sustained losses, while a decisive break above $2.50 might set the stage for a run toward new all-time highs, assuming broader market momentum remains bullish.
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