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XRP Price Surges After V-Shaped Recovery, Targets $3.40
Institutional buyers step in after sharp sell-off, establishing strong support at critical levels.
Updated May 20, 2025, 12:40 p.m. Published May 18, 2025, 8:23 a.m.
What to know:
- XRP rebounds after sharp sell-off, finding strong support at $2.32 level with buyers stepping in during high-volume periods, according to CoinDesk Research's technical analysis data model.
- Technical analysis shows XRP forming a V-shaped recovery pattern targeting $3.40, with a 53% surge in open interest to $5.06 billion signaling bullish sentiment.
- Analysts predict potential breakout with price targets ranging from $3.33 to $5.86 as XRP completes wave patterns and maintains key support levels.
Global economic tensions and regulatory developments continue to influence XRP's price action, with the digital asset showing remarkable resilience despite recent volatility.
After experiencing a significant dip to $2.307 on high volume, XRP has established an upward trajectory with a series of higher lows, suggesting continued momentum as it approaches resistance levels.
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Technical indicators point to a potential bullish breakout, with multiple analysts highlighting critical support at $2.35-$2.40 that must hold for upward continuation.
Technical Analysis Highlights
- Price experienced a 3.76% range ($2.307-$2.396) over 24 hours with a sharp sell-off at 16:00 dropping to $2.307 on high volume (77.9M).
- Strong support emerged at $2.32 level with buyers stepping in during high-volume periods, particularly during the 13:00-14:00 recovery.
- Asset established upward trajectory, forming higher lows from the bottom, with resistance around $2.39 tested during 07:00 session.
- In the last hour, XRP climbed from $2.358 to $2.368, representing a 0.42% gain with notable volume spikes at 01:52 and 01:55.
- Price surged past resistance at $2.36 to reach $2.366, later establishing new local highs at $2.369 during 02:03 session on substantial volume (539,987).
- Currently maintaining strength above $2.368 support level with decreasing volatility suggesting potential continuation of upward trajectory.
External References
- "XRP price path to $3.40 remains intact — Here is why", Cointelegraph, published May 16, 2025.
- "XRP Price Watch: Bulls Eye $2.60 as Long-Term Trend Holds", Bitcoin.com News, published May 17, 2025.
- "XRP Price Explosion To $5.9: Current Consolidation Won’t Stop XRP From Growing", NewsBTC, published May 17, 2025.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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