XRP Broke Out Towards the End of Last Week and Has Been Climbing Ever Since Managing a 15% Rally

XRP broke out towards the end of last week and has been climbing ever since managing a 15% rally

Summary:

XRP price has risen 15% over the last week to reach $2.43 by 1:44 PM ET (05:44 GMT) on Wednesday, May 10 as the most important development was the agreement reached in the Ripple Labs vs. Securities and Exchange Commission (SEC) court case.

However, while the upsurge has triggered significant bullishness in the community and the token has accrued strong positive momentum, history shows that the cryptocurrency market can always create unexpected volatility and that major rallies tend to lead to substantial corrections.

Under the circumstances, Finbold decided to consult advanced artificial intelligence (AI) about whether the current patterns and circumstances indicate XRP can sustain the trend until June, or if a bearish reversal is in the cards.

Setting the price target for XRP for June 1, 2025, at 1:58 PM ET, ChatGPT-4.5 reflected on the token’s recent momentum and technical setup, but also identified the deal reached with the SEC and the associated regulatory clarity as important factors.

The AI also noted community sentiment driven by the optimism that emerged from Bitcoin's (BTC) rally toward $105,000, pulling the cryptocurrency market upward when forecasting XRP's price for the start of next month.

Specifically, ChatGPT explained that $2.85 is the most plausible June 1, 2025, price target. According to the AI, the 17.28% rally in the coming three weeks is reasonable as it accounts for the prevailing optimism, but also for the need for the token to breach the strong resistances near $2.50, and factors such as profit-taking, macroeconomic shifts, or wider unforeseen events.

ChatGPT is significantly more conservative than most noted on-chain experts and community analysts, despite providing a bullish target. For instance, Ali Martinez published an X post on May 11 stating that a symmetrical triangle chart pattern governs XRP and that a breakout could lead to $15 for the token, more than five times the digital asset's current value which would see its market cap hit over $700 billion.

"The price action is unfolding according to the script. As mentioned previously, a symmetrical triangle pattern is forming on the 3W time frame for XRP. If the cryptocurrency breaks out of this pattern, we can expect an astronomical move of 500% from the point of divergence in 2022, potentially reaching $15 or even higher."

Dark Defender, another prominent voice on the social media platform, proved somewhat less bullish when they revealed that the cryptocurrency is likely targeting the $3.3330 Fibonacci level after pushing past the previous critical zones at $2.2222 and $2.3620.

Good Morning, Legends! #XRP is on the way to the $3.3330 Fibonacci Level.

You have experienced how important $2.2222 and $2.3620 were, and precisely addressed!

Have a wonderful week ahead.

Cheers,Dark

Interestingly, not all recent analyses have been bullish. A prolific TradingView member and analyst known as ovvnyou believes that the cryptocurrency market may be in a 'double fakeout from H&S' (head-and-shoulders pattern), according to a post from May 10.

While the analyst refrained from giving a price target, they opined that a crash could come within one or two weeks, in the second half of May.

"After the price broke through the neckline of the H&S pattern, it quickly dropped below the support level, finally stabilizing around $2.30. This move was surprising to many analysts, leading to varied opinions. Some believe that the H&S pattern has been invalidated and that a new bull cycle is beginning from the $2.30 support level, while others maintain that the H&S pattern is still valid and a deep crash is imminent."

Lastly, the technical setup for XRP reveals the token is at a crossroads. The relative strength index (RSI) of 59.67 demonstrates there is no particularly strong bullish or bearish pressure on the cryptocurrency, which is, at its press time price of $2.43, aiming for the nearest resistance level at $2.45.

On the flip side, similar technical analysis (TA) reveals that there is more support for an optimistic attitude. XRP has covered significant ground from its nearest support zone near $2.31 and would need to plunge 4.94% to even risk a bearish breakout.