XRP is trading at approximately $2.07 after experiencing a nearly 8% decline over the week. Even though short-term momentum appears weak, analysts are closely monitoring technical charts for potential significant price movements.

Key Technical Pattern Forecasts $9.50 Target

A two-week chart provided by analyst EGRAG CRYPTO illustrates a Descending Broadening Wedge forming for XRP. This pattern indicates a series of lower highs and lower lows, typically seen preceding volatility. If XRP breaches above the upper trendline, it could potentially reach $9.50, representing a 360% upswing from its current value. Conversely, if the pattern falters, a drop below support suggests a target around $0.50.

Note: #XRP – Descending Broadening Wedge: This is The Post. Author: EGRAG CRYPTO Twitter

Analyst Rose Premium Signals recently shared a two-day chart indicating XRP rebounding off a key lower trendline within an ascending channel, which has shown resilience in past months. If this rebound sustains, price projections indicate potential targets of $2.30, $2.60, $3.00, $3.57, and $4.10, while a dip to the $1.50–$1.60 territory could occur prior to any rally.

Current Resistance and Support Levels

CryptoWZRD highlighted that XRP is trading slightly below the $2.27 resistance mark, hovering around $2.07, which currently acts as a support level. Analysts are predicting fluctuations ahead of the traditional markets’ upcoming weekly close, noting $2.00 as a crucial downside support level. Short-term holders are reportedly offloading their positions, with significant movements in XRP assets. Recent data shows that social media sentiment regarding XRP has turned more negative, reflecting the highest level of fear-driven commentary since October.