Top Analyst: XRP Holding Strong at $2.22 – Is a 100% Rally to $5 Coming Next?
This content is provided by a sponsor
There is a growing consolidation in the broader digital currency ecosystem with XRP price in the spotlight.
At the moment, the sentiment in the market is low with XRP signaling strong support inking a Year-to-Date (YTD) gain of 3.62%.
The outlook for XRP appears bearish, however, there are considerations that the coin might be consolidating around its floor price, setting the stage for a bullish rebound.
XRP Price: Onchain Data Signals Rebound
At the time of writing, data from CoinMarketCap shows the price of XRP was changing hands for $2.232, down by 4.49% in 24 hours.
This decline reflects the general market trend in which the combined valuation has dropped 1.37% to $2.69 trillion.
Commenting on the XRP price outlook, top analyst Egrag Crypto identified the $2.22 level as support.
Since at least December 2024, the $2.2 price mark has served as a formidable support for XRP despite extreme volatility.
While the coin dropped below this level on February 27 and March 9, the drop was short-lived before it rebounded.
The market around XRP comes with a lot of ecosystem uncertainty.
Open Interest is always shifting per time, and data from Coinglass pegs this metric at 1.41 billion XRP as it is being written.
This accounts for a growth of 0.67% in 24 hours, a show of renewed interest among futures traders.
Drawing on the onchain outlook over time, Egrag Crypto is optimistic about the XRP price rebound.
In earlier posts, the analyst teased XRP’s buy advantage with a forecast for a future blowout.
How High Can XRP Rise?
The XRP/USDT 4H Chart on TradingView reaffirms the market’s consolidation.
However, the XRP Relative Strength Index (RSI) flashes a 39.92 reading. This proves XRP is still mildly oversold, creating room for a rebound.
Photo: TradingView
The Bollinger Bands also suggest a possible rebound move.
The price hovers around the lower bands, with a general band tightening, indicating reduced volatility.
While analysts forecast a $5 price mark, the possibility in the short term is hinged on other key factors.
The overall market outlook and sustained investor enthusiasm must stay at elevated levels, which is likely difficult considering its correlation with Bitcoin (BTC).
However, XRP is poised to oscillate between the $2.2 support and the $2.6 resistance in the short term.
MIND of Pepe Offers 303% Staking Reward
While the radar is on the price of XRP, MIND of PEPE also offers an interesting value proposition.
The fast-growing AI agent is offering a 303% staking rewards to investors as part of the offerings in its Presale proposition.
As one of the frontline AI agents, MIND of Pepe merges artificial intelligence with the intrigue associated with memes.
The project offers its holders exclusive market insights and leverages social media to connect with its community.
Part of the perks that are associated with MIND holders include access to presales before innovative projects go live on exchanges.
As an intelligent AI project, MIND of Pepe can also float new tokens to enhance value addition to its users.
Disclaimer: This publication is sponsored. Coinspeaker does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Coinspeaker or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Coinspeaker shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.
Pi Coin is facing heavy downward pressure following criticism from Cyber Capital Founder Justin Bons, which has stirred fresh uncertainty around the project.
