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XRP Breaks Through $2.38 Resistance—Traders Eye Next Price Targets as Momentum Builds

XRP Breaks Through $2.38 Resistance—Traders Eye Next Price Targets as Momentum Builds

Cryptonews
Author:
Cryptonews
Release Time:
2025-05-17 14:58:01
0

XRP bulls are back in the driver’s seat as the asset claws past $2.38, flipping a key resistance level into support. Traders now watch for a potential push toward $2.75—or, if Wall Street’s usual ‘buy high, sell low’ logic kicks in, a swift reversal.

Technical indicators show bullish divergence, but skeptics note the crypto market’s uncanny ability to defy logic—just ask anyone who’s ever tried to short a meme coin.

✅.

2. Parties filed a motion to hold the appeal and cross appeal in abeyance✅

3. Parties file rule 62.1 motion asking for an indicative…

— bill morgan (@Belisarius2020) May 16, 2025

Ripple’s Chief Legal Officer, Stuart Alderoty, told investors that the setback doesn’t impact XRP’s legal standing.

A revised motion will be filed soon and then the parties can seek a limited remand to dissolve the injunction and finalize a $50 million penalty.

  • Settlement Agreement Signed
  • Motion for Indicative Ruling Denied (Procedural)
  • Parties Preparing Revised Filing

XRP Chart Eyes $2.38 Recovery Amid Channel Pressure

On the technical front, XRP price prediction remains slightly bearish. On the charts, XRP/USD is stuck in a descending channel on the 1-hour chart, with price consolidating at $2.35. The channel has clear lower highs and lower lows, meaning bearish control.

The 50-period EMA at $2.40 is capping upside, while MACD lines are below zero—no bullish momentum. Price just rejected the midline of the channel, so sellers are in control.

XRP Price Chart – Source: Tradingview

Whereas, on the lower side, $2.31 is acting as a key support. If broken with volume, XRP could go to $2.26 or $2.20. But if bulls defend this level and print a bullish engulfing candle above the EMA, we could see a recovery to $2.44 and $2.49.

  • Resistance: $2.40, $2.44, $2.49
  • Support: $2.31, $2.26, $2.20
  • MACD: Bearish, flat
  • Pattern: Descending channel with weakening bounces

BTC Bull Token Nears $6.84M Cap as 71% Staking Yield Drives Demand

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Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.

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