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TL;DR
- Ripple’s cross-border token notched an impressive 30% surge from the crash this time last month, but an important technical indicator suggests that there might be a correction on its way.
- For now, XRP remains within a tight range between a key resistance and a critical support line.
Recall the developments that took place a month ago when the entire crypto market plunged hard amid the escalating tensions on the Trade War front between the US and essentially the rest of the world.
Fast-forward a month, and the political situation seems a lot better, with reports that the US and China plan to meet soon regarding the remaining tariffs. Naturally, crypto prices have reacted to all developments.
A month ago, XRP plunged to $1.6 but now sits above $2.1. However, the TD Sequential on the 3-day scale hints at an upcoming correction. The metric, used to showcase an asset’s exhaustion in either direction, has flashed a sell signal, according to popular crypto analyst Ali Martinez.
$XRP could be due for a retracement, with the TD Sequential flashing a sell signal on the 3-day chart! pic.twitter.com/onZCDJTusd
— Ali (@ali_charts) May 7, 2025
Despite the brief slip below $2 a month ago, XRP has remained predominantly above that level. While some analysts believe that such a price is an ‘absolute gift,’ Martinez has highlighted multiple times how important it is for $2 to remain as support instead of turning into resistance if XRP slips below it.
In a separate post today, the analyst with over 135,000 followers on X also outlined the upper boundary in XRP’s current trading range – $2.26. The asset currently sits roughly in the middle of the two lines ($2.14), with no clear indication of the next big move. Martinez said more clarity will come whenever XRP decisively closes below $2 or above $2.26.
Key levels to watch for $XRP are $2 and $2.26. A decisive close outside this range could set the tone for the next major trend. pic.twitter.com/GvBd4bFdjj
— Ali (@ali_charts) May 6, 2025
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