TL;DR
- Perhaps due to the ongoing tension between two of the most influential people in the world – Trump and Musk – the entire crypto market turned red today.
- Ripple’s native token is no exception, as one analyst outlined a bearish closure. However, they also noted that there could be a blessing in disguise.
XRP Daily Technical Outlook:$XRP closed bearish. However, I expect positive price action from XRPBTC which will help XRP turn bullish. Among other altcoins, XRP is doing much better. I’ll track its intraday chart to find a quick scalp opportunity from the lower time frame pic.twitter.com/IvFJNP5yJW
— CRYPTOWZRD (@cryptoWZRD_) June 6, 2025
After recovering some ground from the multi-day lows charted today, XRP’s price is down by 3% on a daily scale and sits at $2.13. In contrast, many alt competitors, such as ETH, BNB, DOGE, ADA, SUI, and LINK, have marked more substantial declines.
Consequently, CRYPTOWZR noted that XRP is doing “much better” compared to them. They believe the asset’s actual breakthrough can occur once the XRP/BTC trading pair improves. For now, though, this hasn’t been the case as BTC has taken the latest correction better and is down by just 1%.
ERGAG CRYPTO, another popular analyst with over 84,000 followers on X, noted that the upcoming weekend will be crucial for XRP’s price. They said the “retest box” (visible in the chart below) was barely hit, and “we need to see what will happen during the weekend.”
In order to turn bullish, the asset would need to close above certain thresholds, the first being $2.3. However, the biggest challenge will be a closure north of $2.65, which will be the “go-go signal.”
#XRP – Short-Term Move:
To have #Bullish break-out then #XRP has to close:
1️⃣ $2.30
2️⃣ $2.35
3️⃣ $2.36 – break-out from MEGA falling wedge
4️⃣ $2.45
5️⃣ $2.65 Is Go-Go signal #XRPFamily STAY STEAD and STRONG , Together We Rise pic.twitter.com/3Z2TfmWxEV— EGRAG CRYPTO (@egragcrypto) June 5, 2025
The post XRP Price Closed Bearish: But Here’s The Good News appeared first on CryptoPotato.
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