XRP Price Faces Key FVG Levels: Next Move to $3 or $1.77?

• XRP faces key resistance at $2.80, with a failure possibly leading to a dip near $1.77.
• The FVG zone at $2.6-$2.7 is crucial; a breakdown could lead to $2.4, $2.2, or even $1.77.
• XRP ETF approval and regulatory clarity could trigger XRP’s next major breakout.

XRP has been on a volatile ride, with recent price action raising speculation about its next move. After sweeping the previous week’s high, the asset is facing key support and resistance levels. XRP maintains a market value of $2.62 as it recovers from its latest peak, providing investors with unclear indicators about forthcoming changes in its price.

Market analysts are watching the Fair Value Gap (FVG) on the daily chart, which lies between $2.6 and $2.7. If this level fails, the price could dip further to $2.4, a critical support zone. A failure to hold $2.4 might push XRP toward $2.2. In a more bearish scenario, traders are eyeing $1.77 as a potential low point, aligning with the previous weekly bottom.

Despite the pullback, XRP has shown resilience through its performance over previous months. The asset stands as one of the highest-performing cryptocurrencies within the top 100 which recorded a 145% increase within 90 days. However, it has staggered to a value that is 31% below its peak of $3.89 from January 2018. Investigating the long-term pattern shows that XRP is approaching the completion of its seven-year long rounding bottom pattern. If the asset reclaims $3.89, this pattern will complete, potentially signaling the end of an extended accumulation phase.

Technical indicators present a strong bullish outlook. XRP recently broke above the daily EMA ribbons, a bullish sign that historically precedes strong rallies. The last time this breakout occurred, XRP surged by over 400% within weeks. Additionally, the Moving Average Convergence Divergence (MACD) has confirmed a bullish crossover, a pattern often associated with trend reversals and upward momentum.

A sustained rally of XRP will require it to close above $2.80. The market resistance at this price level carries significant importance because it may shape XRP’s upcoming short-term movements. XRP prices could initiate additional growth if it sustains $2.80 as a closing point.

The market environment beyond XRP will also be crucial to its performance. The Bitcoin market’s inability to reclaim above $100,000 creates market-wide doubt, thus maintaining altcoin prices in limbo. If Bitcoin gains strength, it might deliver enough power for XRP to surpass higher price levels.

Related: Analyst Predicts XRP Surge to $27 Using Fibonacci Levels

Future price growth may be driven by both regulatory advancements and institutional adoption. The approval of an XRP exchange-traded fund (ETF) would result in substantial increases in XRP demand. XRP could also gain traction among institutional investors if it secures a major role in financial settlements.

The ongoing SEC lawsuit appeal remains another wildcard. If dismissed, it could provide legal clarity and restore confidence in XRP’s long-term viability. With multiple factors at play, the coming weeks will be crucial in determining whether XRP continues its climb or faces further corrections.

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