XRP Technical Analysis: 5 MAY 2025
XRP holds the intra-day supports. Source: TradingView
General View
XRP has been moving in a controlled pullback after facing rejection from the intra-day resistance zones near $2.35. In response, bulls have stepped in at the intra-day support around $2.10, helping the price stabilize. This has now created a narrow range between $2.10 to $2.35, where both bulls and bears are in a stand-off. Interestingly, a falling wedge pattern is also starting to take shape on the chart, hinting at a potential breakout to the upside.
On The Upside
The first hurdle for bulls remains the $2.20 intra-day resistance, followed by $2.25. Both of these are challenging levels for the session. As for the major hurdle, that remains at the $2.35 level. XRP has faced recent rejection from this level, and as long as bulls continue to reject off this level, sustainable upside remains questionable.
On The Downside
The session’s primary support is at the $2.125 level, followed by $2.05. Both these are decent supports and have been holding the price above them since mid-April. However, if bulls fail to demonstrate any strength, this support comes under stress.
XRP is in a falling wedge pattern. Source: TradingView
