XRP Prices Poised to Climb to $3.40 After Major Bearish Formation Fails

XRP Could Reach $2.85 by June as Bullish Momentum Gains Strength

AI-assisted technical analysis suggests XRP could rise to $2.85 by June 1, driven by a breakdown in a key bearish pattern and growing bullish momentum.

Imagine a basketball player faking a jump shot and then pausing just before he jumps. The defender, anticipating the shot, jumps too early, leaving the offensive player with a clear path to drive to the basket or take a wide-open shot. This scenario is analogous to what’s happening with XRP’s price action, as the failure of a major bearish pattern has created an opportunity for a bullish breakout.

XRP, the digital asset used by Ripple to facilitate cross-border payments, had formed a large head-and-shoulders pattern from December to April, signaling a shift in market sentiment from bullish to bearish. In early April, this breakdown led to a drop below the $2 support level, sending prices as low as $1.60.

Initially, many analysts predicted a continued sell-off toward $1.20, but XRP quickly reversed course and reclaimed the $2 level, marking the failure of the bearish breakdown. This quick recovery trapped bearish traders, similar to the basketball defender who jumps prematurely. Since then, XRP’s price has continued to climb, surpassing the $2.50 mark and signaling an end to the downward trend that began after reaching a high of $3.40 in January.

With the bearish pattern now invalidated, the bulls have gained control and are eyeing a return to the January high, or even higher price levels.

The bullish outlook is strengthened by XRP’s position above its 200-day simple moving average. The cryptocurrency maintained a strong position above this key level even during the broader market sell-off in early April, when Bitcoin fell below $75,000, signaling its resilience.

The rally is also supported by a significant increase in trading volumes, which indicates growing confidence in XRP’s price prospects, according to CoinDesk Research’s AI-powered technical analysis.

“After breaking the key resistance level at $2.40 with high volume, XRP formed an ascending channel pattern, triggering strong buying momentum,” the model noted. “While AI predictions suggest that XRP could hit $2.85 by June 1, some analysts have set even higher price targets, ranging from $3.33 to as much as $15.”

Additionally, positive market sentiment following Ripple’s legal victories against the SEC, combined with a favorable regulatory environment under the crypto-friendly Trump administration, continues to fuel optimism for XRP.