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The XRP price dropped 10% in the last 24 hours to trade at $2.016 as of 02:35 a.m. EST on trading volume that surged 14% to $7 billion.
Despite the drop, analyst CryptoBull on X predicted that the current Ripple token chart formation could push XRP to $4.
#XRP is bottoming here and then goes above $4! pic.twitter.com/M1BaMTmag9
— CryptoBull (@CryptoBull2020) February 28, 2025
But what does the current 4-hour chart analysis indicate?
XRP Price Analysis: Potential Reversal in Sight?
The XRP price chart on the 4-hour timeframe reveals an interesting Elliott Wave structure, currently suggesting the completion of wave (4) and the potential for an upcoming wave (5) impulse move to the upside.
The Ripple token price has retraced back into a fair value gap (FVG) zone, a significant liquidity area that has previously acted as strong support, according to GeckoTerminal data. This region, marked in purple, has historically facilitated bullish reversals.
Additionally, a descending wedge-like structure was formed during the wave (3) to wave (4) decline, indicating a possible exhaustion of bearish momentum. The price of XRP action suggests that a potential bounce from this key support area could fuel a rally towards completing wave (5).
Meanwhile, the 50-day Simple Moving Average (SMA) at $2.4285 is below the 200-day SMA at $2.6221, indicating a bearish crossover. However, the Ripple token price movements are often volatile around these levels, and a reclaim of the 50-MA could trigger bullish momentum.
The 200-day SMA is currently acting as resistance, meaning XRP will need strong buying volume to push above this critical level.
Moreover, the Relative Strength Index (RSI) is at 24.52, which is in the oversold territory. This suggests that selling pressure may be exhausted, increasing the likelihood of a bounce in price.
Ripple Token Price Prediction
Given the technical setup, the XRP price is at a crucial decision point. If the price of XRP holds the FVG support zone and rebounds, it could target a move toward the $2.60 – $2.80 range, aligning with the wave (5) projection.
The RSI being oversold supports this bullish outlook, as a reversal is often imminent in such conditions.
However, if the Ripple token price fails to hold above $2.00, a deeper retracement towards $1.80 – $1.90 could occur before any recovery. The key resistance levels to watch are $2.42 (50-day SMA) and $2.62 (200-day SMA), as reclaiming these levels would further strengthen the bullish case.
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