XRP Price Consolidates After Facing a Challenging Week

XRP has faced a challenging week as prices retreated from above $2.5 to the $2.3 range. This pullback has left many traders wondering if the cryptocurrency's

The price of XRP has pulled back from highs above $2.5 to trade back in the $2.3 range.

This move has come after four days of red closes, which began last Wednesday.

The crypto market pattern

The price action began to turn negative last Wednesday, with XRP closing in the red for four consecutive days. This pulled back some traders who were expecting more immediate gains from the recent swing lows.

However, Sunday, May 17 brought some relief as XRP posted a green close, breaking the downward streak. This pattern is interesting as market data shows XRP hasn’t had more than four consecutive red daily closes since August 2024.

This could suggest that the market is maintaining its structural integrity despite the short-term volatility. The green Sunday close could indicate buyers are returning after the brief correction.

One crypto market expert has also pointed out that while the correction shows red candles, the overall advance is green with consolidation in the blue zone. This technical assessment suggests that the cryptocurrency is still in a bullish consolidation phase.

Support and Resistance

From a technical analysis perspective, XRP is currently facing several key levels that traders are monitoring.

The price is trading below the $2.40 level and the 100-hourly Simple Moving Average (SMA), which indicates that short-term bearish pressure is still present.

However, a key support level has formed at $2.355, with a connecting bullish trend line visible on the 4-hour chart. This support also coincides with the 61.8% Fibonacci retracement level of the recent upward move from $2.299 to $2.449.

This technical confluence makes the $2.355 area particularly critical for the short-term outlook of XRP. If this level holds, it could provide the foundation for the cryptocurrency’s next move higher.

Recently, the cryptocurrency attempted to rally above $2.35 but encountered resistance in the $2.45 zone. A new high was established at $2.4495 before the price faced another round of selling pressure.

Moving on to immediate resistance levels, traders will be watching the $2.40 mark closely, followed by a stronger resistance band at $2.45. If the bulls can push the price above $2.50, further targets would include $2.60, $2.65, and potentially $2.80 in the coming weeks.

Patience is key.

#Altcoins & #XRPUSDT

» More : https://t.co/L3HBvVJDyS

Namaste. 🙏pic.lighter.io/MbiKwgjU1D

— Master_Ananda (@ananda_trades) May 18, 2025

On the downside, if the support at $2.355 fails to hold, the next level to watch would be $2.32. A breach below this threshold could potentially send XRP toward deeper support at $2.20 or even $2.12.

Technical indicators are currently showing mixed signals. The hourly MACD is showing some momentum in the bearish zone, while the RSI remains below the 50 level. These indicators suggest that short-term weakness may continue.

Despite these short-term challenges, market analysts are still targeting $3 for XRP, suggesting that the current correction is just a pause in the larger bullish trend.

Crypto market pattern

The current consolidation phase for XRP may be testing the patience of traders. As one market expert explained on Telegram, the price “can grow slowly but surely for months and then boom, out of nowhere a sudden jump.”

This pattern of extended consolidation followed by explosive moves is a common occurrence in cryptocurrency markets. What appears to be a lack of progress can often be an accumulation phase before the next leg higher.

The expert further noted that despite the seemingly slow pace, the price “is growing daily and that’s what is most important if you are holding this coin.” This perspective highlights the importance of stepping back and considering the bigger picture when faced with short-term price fluctuations.

For traders and investors keeping an eye on XRP, the key takeaway is that the bulls will be aiming to maintain the price above the crucial $2.355 support. As long as this threshold holds, the bullish case remains intact despite the recent correction.

The four-day red close pattern followed by a green day may also suggest that the market is moving in a rhythmic pattern that has been established over several months. If this pattern continues, it could indicate that XRP is preparing for another move upward.

Traders will be closely monitoring volume patterns and order book data to gauge whether buying interest returns at these lower price levels. Increased buying volume would serve as confirmation that the correction was indeed temporary.

The most recent price data from major cryptocurrency exchanges shows XRP currently trading just above its key support level