XRP is currently experiencing notable capital outflows, threatening its hold above the crucial psychological level of $2.
Over the past 24 hours, XRP’s market capitalization has seen notable fluctuations. It initially stood at approximately $137.5 billion before dipping to $133.39 billion, a loss of $4.11 billion. It then recovered slightly to $135.86 billion at the time of writing.
As of press time, XRP was trading at $2.31, down 1.3% over the last 24 hours. On a weekly basis, it has lost about 1.6%.
Despite this short-term volatility, XRP’s price remains above key support levels. The 50-day simple moving average (SMA) is $2.26, while the 200-day SMA is $1.91. This suggests that XRP is still holding above crucial longer-term trendlines, hinting at potential bullishness in the broader market.
XRP price prediction
Looking ahead, Finbold explored insights from OpenAI’s ChatGPT. The tool suggested that if XRP dips below $2.26, it could test the $2 level, followed by $1.91. However, if the recovery continues and capital inflows resume, a rebound toward $2.35–$2.40 is possible in the near term.
If capital outflows persist in the next few days, the bearish scenario could see XRP test the $2.20 to $2.25 range. Conversely, if market sentiment improves, a rebound toward $2.35–$2.40 is possible.
ChatGPT noted that if bearish sentiment remains, XRP might struggle near $2 for the medium term over the next one to two weeks. Additionally, if positive sentiment returns, the token could push toward $2.50.
Meanwhile, cryptocurrency analyst Brett Crypto, in a May 26 X post, highlighted that XRP has broken out of its seven-year descending triangle pattern.
This breakout suggests a potential strong upside move, with a target set at $4.43. The long-term consolidation, from mid-2018, formed a compressing triangle that XRP recently broke through, accompanied by strong momentum indicators.
Notably, the Weighted Moving Average (WMA) has provided solid support during this run-up, and the breakout aligns with increasing trading volume.
However, this bullish outlook comes as XRP has seen a sharp drop in network activity. As reported by Finbold, the number of new accounts created has fallen 95% from the early December 2024 peak.
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