XRP/USD quotes are at 2.4728 and continue to move within the context of a correction development and bear channel. Moving averages indicate the presence of a short-term upward trend on XRP. Prices broke through the area between signal lines upwards, which indicates pressure from buyers of the asset and potential continuation of the growth rate of XRP on the market already at current levels. In terms of the forecast for XRP today, we should expect an attempt at developing a bearish correction for the asset and testing the support level in the vicinity of the area 2.3205. Afterwards, a bounce upward and continued growth of the cryptocurrency into the region above the level of 2.9655.
Cryptocurrency XRP Forecast for May 16, 2025
Additional signals in favor of the growth of XRP/USD include testing the support line on the Relative Strength Index (RSI). The second additional signal in favor of asset growth is a bounce off the lower border of the bullish channel. Cancellation of the rise option for the cryptocurrency will be a drop and closing prices below the level 2.1665. This will indicate penetration of the support area and continuation of the decline of XRP/USD to an area below the level 2.0705. Confirmation of the growth of the digital currency rate is a break through the resistance zone and closing prices above the level 2.7145.
Cryptocurrency XRP Forecast for May 16, 2025 suggests a test of the support level near the area of 2.3205. From there, it’s expected that cryptocurrency growth will continue with a potential target at the level of 2.9655. An additional signal in favor of the XRP price rise would be testing the support line on the Relative Strength Index indicator. Cancellation of the option for price increase is a fall and break below the area of 2.1665. In this case, it’s advisable to expect continued depreciation of the digital currency with a target below 2.0705.
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