XRP is attempting to break through $2.50 by year-end... Whether it can hold the $1.94 support level is key.

Some predictions suggest that XRP may once again test the $2.50 (approximately 3,678 KRW) level in the upcoming December. However, analysts point out that the primary prerequisite for this rally is holding a key support line.

Crypto analyst Ali Martinez recently noted through chart analysis that XRP has formed a strong support line at $1.94 (approximately 2,854 KRW). He stated that this level has served as a rebound foundation several times in the past, and holding this support would be favorable for an upward movement.

Currently, after a prolonged downtrend, XRP appears to have reached a significant turning point. Although recovering from the sharp drop on October 10 has not been easy, some positive signals have been detected. In particular, analysts believe that institutional demand, following the launch of spot ETFs based on XRP, has to some extent driven the recovery momentum.

Martinez emphasized that whether the $1.94 support line can be firmly maintained in the coming days is critical. If this defense holds, XRP is likely to gradually break through $2.20 (approximately 3,239 KRW), $2.30 (approximately 3,384 KRW), and ultimately attempt to reclaim $2.50.

On the other hand, he also pointed out that if this support line fails, further declines will be inevitable. If a sharp downturn resumes, XRP will face the risk of falling back to previous lows.

Recently, it was reported that Ripple raised $500 million (approximately 7.356 trillion KRW) from Wall Street, which has had a positive impact on investor sentiment toward XRP. In addition, analysts believe that Ripple is implementing technical improvements and upgrades, and the overall risk assessment of the XRP ecosystem may gradually decrease in the future.

From a macro perspective, amid continued market volatility, XRP’s price trends are attracting attention as one of the key assets representing overall market sentiment. The combination of technical and fundamental changes could potentially generate rebound momentum, making the next few days a critical inflection point.

Article summary by TokenPost.ai

🔎 Market Interpretation

It is expected that XRP’s price in December will largely depend on whether the $1.94 support line holds, determining whether it will rebound sharply or decline further. The recent launch of spot ETFs and Ripple’s fundraising news are acting as positive market signals.

💡 Strategy Points

Investors should closely monitor whether XRP can hold above the $1.94 level on the daily close, while a breakout of the short-term resistance in the $2.20~$2.30 range will be key in determining future trends.

📘 Terminology Explanation

• Support line: A price range where buying funds flow in to prevent further declines when prices fall

• Spot ETF: An exchange-traded fund based on physical assets (in this case, XRP) as the underlying asset

• Ripple: The blockchain payment solution company that issues XRP; XRP is a utility token on the Ripple network

TP AI Notice

This article was summarized using TokenPost.ai’s language model. The main content of the original text may have been omitted or may not fully reflect the facts.