XRP Faces 30% Rally Potential if $2 Support Holds

XRP, the native cryptocurrency of the Ripple network, is currently at a critical juncture, with analysts offering mixed forecasts on its potential price movements. According to a recent analysis, if XRP can maintain its position above the key $2 level, it could experience a 30% rally, reaching the next technical target of $2.60. This optimistic outlook is based on the asset's recent recovery from support levels, suggesting that it could regain its bullish momentum if the support remains intact.

Ali Martinez, a well-known crypto analyst, recently shared an updated technical view on XRP’s short-term outlook. Martinez pointed to the $2 level as a decisive support zone. According to him, if XRP can maintain this level, it could lead to a 30% price increase toward $2.6. The chart presents a defined trading channel, with the lower boundary near $2 and the upper resistance line around $2.6. When the chart was published, the digital asset was trading at $2.1297, slightly below the support at $2.13.

Martinez emphasized that the rebound potential depends entirely on whether XRP can sustain its position above this critical $2 threshold. His chart illustrates previous reactions near this area, showing price consolidations and rebounds following tests below the $2 zone. The asset tested this level a few days before the news broke that the U.S. Securities and Exchange Commission (SEC) had dropped its appeal against Ripple. While the asset experienced a brief rebound from this development, it succumbed to bearish pressure from the broader market and retested the $1.9 level again on April 3. In both cases, the asset quickly recovered. If the support remains intact, it could regain its bullish momentum, with $2.60 being the next technical target. Other analysts share the view that XRP is currently in a critical phase that could determine its trajectory, and Martinez’s projection is based on recurring price behavior within the range.

Previous movements between the boundaries have created a recognizable structure that supports his potential 30% upside scenario. The analysis assumes no breakdown below $2, reinforcing the need for continued defense by buyers at this level. After posting this bullish outlook, Martinez was questioned by a member of the community for what he perceived as a contradiction. The previous day, the analyst shared a bearish view involving a head-and-shoulders pattern. In response, Martinez explained that effective trading involves analyzing multiple possibilities, not fixed predictions. He pointed out that “nothing is 100%” in trading and clarified that the interpretation depends on how the price behaves relative to the support. If XRP breaks below $2, a decline could follow. If it holds, a rebound becomes likely. He noted that while this may sound like a “50/50” scenario to some, understanding the context and price structure differentiates proper analysis from guesswork.

Another analyst has warned of a 70% chance of a potential correction to $0.65 for XRP. This bearish scenario is contingent on the asset's failure to break through a key level ahead, which could lead to a retest of lower support levels. The analyst also noted that if XRP breaks through the $3.50 level, it could hit double-digit territory within the next two to three weeks. The current price pattern of XRP has been identified as an Ascending Broadening Wedge, a formation that often signals high volatility. According to the analyst, XRP must close above $3.50 to confirm a bullish setup. If it fails to hold above $5 during a future rally, it may retest $1.90. Following that, another attempt to close above $5 could trigger a run to $6. A successful close beyond that level could propel XRP into double-digit territory, likely $17.50, within weeks. However, the analyst warned that there is a 70% chance it breaks to the downside and only a 30% chance for an upside breakout.

Another expert has shared a bullish forecast for XRP in the near term. Highlighting the monthly chart outlook, the analyst said that the Relative Strength Index (RSI) remains strong, and the A Wave has been completed. He expects a B Wave that could drive XRP price up to $3. He also speculated that XRP might skip the final C Wave, heading straight to long-term targets near $5.85. In other words, the short-term bullish targets remain at $2.222 and $2.555, while key supports lie between $1.95 and $2.04.

Amid these expert predictions, investors are also keeping a close track of the XRP lawsuit developments. A recent mysterious filing in the ongoing Ripple vs SEC lawsuit has sent shockwaves through the XRP community. An emergency request has been made to present “decisive evidence” that could potentially sway the case’s outcome. It’s worth noting that a positive outcome in the case could significantly drive the prices higher in the coming days. However, a delay by the US SEC in concluding the case has dampened market sentiment, which has also caused the XRP price to remain stagnant over the past few weeks.