XRP Value Climbs Following Recovery Pattern, Eyes $3.40 Target

Institutional buyers have re-entered the market after a sharp sell-off, establishing solid support at crucial levels.

Key Insights:

• XRP rebounded sharply after a dip, finding strong support at the $2.32 level as buyers emerged during high-volume periods, as highlighted by CoinDesk Research’s technical analysis.
• Chart analysis indicates XRP is forming a V-shaped recovery pattern with a target price of $3.40, supported by a 53% increase in open interest to $5.06 billion indicating bullish sentiment.
• Analysts forecast potential breakout with price targets between $3.33 and $5.86 as XRP completes wave patterns and holds significant support levels.

Global economic pressures and regulatory changes are continuously impacting XRP’s price dynamics, showing notable resilience amidst recent volatility.

After a drastic decline to $2.307 under heavy trading, XRP demonstrated upward movement with a series of higher lows, suggesting sustained momentum as it nears resistance levels.

Technical Analysis Highlights:

• XRP experienced a price range of 3.76% ($2.307-$2.396) within 24 hours, following a major sell-off at 16:00 that dropped the price to $2.307 on significant trading volume (77.9M).
• Strong support at $2.32 was evident, especially during the 13:00-14:00 recovery period with active buyers.
• The asset established an upward trajectory, forming higher lows since reaching the bottom, with resistance near the $2.39 mark tested during the 07:00 trading session.
• In a recent hour, XRP rose from $2.358 to $2.368, reflecting a 0.42% gain with notable volume spikes.
• Currently, XRP maintains strength above the $2.368 support level, with reduced volatility indicating a possible continuation of the upward trend.

Disclaimer:

This article was created using AI technology and validated for accuracy. It may contain references to external sources, which are acknowledged here when applicable.

External References:

1. XRP price path to $3.40 remains intact — Here is why, Cointelegraph, published May 16, 2025.
2. XRP Price Watch: Bulls Eye $2.60 as Long-Term Trend Holds, Bitcoin.com News, published May 17, 2025.
3. XRP Price Explosion To $5.9: Current Consolidation Won’t Stop XRP From Growing, NewsBTC, published May 17, 2025.