XRP, if it breaks $2, it will 'rush to $5'..."Survived 8-year channel"

▲ XRP

Despite recent market corrections, XRP has maintained the key support level of a multi-year uptrend channel, leading to an analysis that it could rise to $5. A prediction was also made that if an overshoot exceeding the top of the channel, similar to the surge in 2018, reoccurs, it could reach $20.

According to The Crypto Basic on May 25 (local time), Korean financial analyst Ninedex analyzed that XRP is maintaining its long-term uptrend channel structure despite recent declines, and could rise to $5 if it recovers the upper part of the mid-channel. XRP fell approximately 13% from its May 14 high of $1.54 to around $1.34 but defended a key support level within the mid-section of its multi-year uptrend channel.

Ninedex explained that XRP has moved along a long-term channel structure since it began trading in 2013. Initially, XRP remained in the lower channel, but after a strong rally in early 2017, it moved into the mid-channel in May 2017 and continued a sideways trend until December of the same year. Subsequently, in January 2018, it briefly entered the upper channel by surpassing $3, but after a sharp correction, it returned to the mid-channel.

Ninedex considered it significant that XRP moved within the mid-channel for the subsequent 8 years and did not fall back into the lower range. He analyzed that XRP's ability to hold the mid-channel is the basis for maintaining its status as a major altcoin.

Technical indicators were also presented as factors supporting the possibility of a rebound. Ninedex explained that XRP has formed a major blue support line within the mid-channel, and this support line is located at the $1.4 price level, coinciding with the Fibonacci 0.382 level. This zone was assessed as a strong long-term support line formed over a long period from 2022 to 2024.

The long-term stochastic indicator rebounded from 15 points to 20 points. Ninedex considered 15 points to be one of the rare oversold zones in XRP's history. The Moving Average Convergence Divergence (MACD) also recently formed a golden cross on the EMA line, and the oscillator turned back into positive territory, signaling that market momentum has begun to shift upwards.

However, for XRP to truly begin an ascent, it must overcome the resistance formed in 2024 and 2025. Ninedex pointed out that XRP must first break through the crucial $2 price level. He analyzed that with the weekly Moving Average Convergence Divergence (MACD) and stochastic indicators already forming a strong bottom, there is a possibility for it to rise towards $5 without significant difficulty.

Ninedex believes that if XRP rises to the upper part of the mid-channel, it can naturally approach $5. He also mentioned the possibility of exceeding normal expectations given strong community support and its history of past surges. If a 2018-style overshooting rally repeats, where XRP breaks through the upper part of the mid-channel and re-enters the upper channel, the price could rise to $20, according to the analysis.

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