- The Squeeze: XRP enters a tight consolidation phase, trapping price between $2.00 support and the $2.30 supply wall.
- The Trigger: A clean daily close above $2.27 is required to invalidate the bearish thesis and open the path to $2.75.
- The Psychology: Analysts warn the current “time-based” correction is designed to flush impatient capital before the trend resumes.
XRP traded around $2.20 as of press time as the market continued to absorb slow movement across major assets. The token gained 1.64% in the past 24 hours, while recording a mild weekly decline. Trading activity remained high with more than $3.8 billion exchanged, reflecting strong interest despite muted price extension.
Related: XRP Rebounds 9% as Order Flow Data Signals Strong Support at $2.00
The ‘Time-Based’ Capitulation
Market structure remains intact despite the lack of vertical momentum. Analyst EGRAG CRYPTO argues the market is undergoing a “time-based” correction rather than a price capitulation.
“Slow progress tends to drain enthusiasm,” EGRAG noted, identifying the current chop as an emotional filter designed to shake out low-conviction traders. His technical analysis points to a “decision point” emerging from this compression. If the structure holds, the prolonged sideways action serves as accumulation, building the energy required to breach overhead resistance.
Resistance at $2.30 Remains the Main Barrier
XrpArthur highlighted repeated failures at $2.30. He views the yellow zone near this level as the current battleground. Each attempt to clear the zone met strong resistance as sellers stepped in quickly.
Additionally, immediate support sits near $2.02. A break under this level may expose the $1.90 area. However, he believes a clean daily close above $2.30 could shift momentum back to the bulls and open the path toward $2.45 and $2.60.
Bitcoin Correlation and XRP’s Upside Targets
CRYPTOWZRD observed a bullish daily close on both XRP and XRPBTC. He expects further upside if Bitcoin strengthens and Bitcoin Dominance declines. He tracks $2.27 as the first resistance to clear before a potential move toward $2.75.
Moreover, he identified $2.00 as the main support for short-term reactions. His intraday chart shows a developing double-top pattern, suggesting the need for a firm trigger before new positions.
Related: XRP Price Prediction: XRP Price Holds Key Support as Market Sees Lower Leverage
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Source: https://coinedition.com/xrp-price-today-compression-analysis-resistance-2-30-target-2-75/
