XRP is up 8% this week and faces a big test – can $2.2 break through or will it lead to a sell-off?

最新报道:Ripple [XRP] has reached a critical level that could either signal a stronger rally or foreshadow a potential crash. Prominent analyst Peter Brandt says XRP’s weekly chart is on the verge of forming a bearish inverse head and shoulders pattern. Brandt added that a break below $1.8 could be a warning sign. Brandt said that if Brandt’s prediction comes true, potential bearish targets would be as low as $0.05, a drop of more than 77%. However, the altcoin is up 8% this week and is trading at $2.1, which means it is far from the $1.8 risk level marked by Brandt. “We believe XRP will double” The aforementioned bearish outlook is contrary to Canary Capital’s double-up prediction. In an interview with Schwab Network in April, Canary’s CEO Steven McClurg said that XRP’s outlook remains positive in the long run. For reference, XRP outperformed Bitcoin [BTC] at the end of last year, gaining more than 400%. Therefore, a repeat of BTC-like movements would not be surprising. However, so far in 2025, XRP has underperformed BTC, falling more than 40% against the leading coin. Still, the price action has not been smooth sailing. According to Glassnode’s cost basis data, $2.2 marks the average purchase price of nearly 2 billion XRP. If holders choose to break even here, resistance could quickly establish. The next supply-heavy zone is located between $2.3 and $2.4, where more than 1 billion XRP was purchased. Meanwhile, XRP is trading at $2.19 at press time, but there are no signs of overheating or selling in the market, despite the large supply around that level. Profit-taking has eased 3 times. So, has the selling pressure disappeared? Here’s the encouraging turn: despite the looming supply zone, profit-taking has eased significantly. In mid-June, XRP’s profit-taking rate was about $151 million per day, according to Glassnode. However, the sell-off has eased to $47 million this week, and the pressure has dropped nearly 3 times. This suggests that XRP has the potential for an extended recovery amid a weak sell-off. On one hand: Brandt warns that a sharp drop could occur if $1.8 is lost. On the other hand, Canary calls for a breakout and possible doubling. But in the middle is $2.2. Whether this level breaks or holds could determine which prediction comes true first.

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