XRP Price Surges After V-Shaped Recovery, Targets $3.40

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.

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.