XRP Price Prediction: $2.80 Support Tested as Bulls Eye $5

XRP Price Analysis: $2.80 Support Tested as Bulls Target $5

XRP has been trapped between high demand zones and market hesitation. Although the short-term momentum appears questionable, there is a wider falling wedge pattern under which the traders are looking forward to a possible breakout, suggesting that the existing weakness might be leading to a major reversal.

The recent chart analysis by analyst Dark Defender shows that the level of $2.80 has formed the foundation of the structure of Ripple. This level, which has proved itself repeatedly in recent months, has stood as a solid buffer against deeper sell-offs. Below it, the supporting zone of $2.64 is a secondary safety net in the scenario of rising selling pressure.

XRPUSD 1-D CHART | SOURCE: X

On the positive side, the level of rejection at the $3.13 mark confirms that there is a resistance point; on the other hand, the larger wedge indicates that a possible reversal is an upward trend.

The next bullish targets, as noted by the analyst, are $4.17 and $4.92, while stretched targets are towards $5.85 in case momentum is reinstated. However, it is important to retain the corresponding amount of $2.80 to prevent the risks of short-term breakdowns.

Additionally, a technical perspective by analyst Ali points out that XRP has the level of $2.71 as strong short-term support on the chart. This zone has historically been a strong demand level where buyers have consistently defended it to avoid further sell-offs. A position above $2.71 may sustain a recovery up to $3.20 and even higher to $3.60, while failure to hold above it may expose the asset to $2.60 or even $2.52. 

XRPUSDT 4-H CHART | SOURCE: X

More so, this arrangement enhances a positive risk-to-reward situation for bulls with the presence of the critical base.

Macro Pressures vs. Utility-Driven Resilience

On top of the technicals, the XRP market behavior can be described by the uncertainty of the crypto market, in general. The recent volatility in Bitcoin has since spilled over to altcoins, dragging liquidity and sentiment down.

However, XRP has still enjoyed the same advantage of its cross-border payments and remittance solutions, where continued institutional usage has created a floor to value.

XRP has a more utility-based narrative compared to meme-based tokens or speculative ones, which have, in the past, acted as a buffer against more profound collapses. However, just like its counterparts, it is susceptible to the macro-based fluctuations in the demand and liquidity cycles.

October Outlook: A Potential Turning Point

In the future, the direction of XRP will highly rely on the ability of the price at $2.80 to serve as a successful foundation. A breakout to a higher level than $4.17 and above might occur in case buyers defend this zone as per the bullish resolution of the wedge pattern. On the other hand, losing this level might subject the asset to $2.64 or even more consolidations, pushing the expected rally.

There is cause to be cautious in the short term, although the overall structure is encouraging. For traders looking at October, the technical and fundamental outlook of XRP could come as a surprise by making an upward move, while once again proving to be one of the most resilient assets in the sector.