XRP saw extreme volatility on Monday, plunging nearly 40% to its lowest levels since November before rebounding. However, the cryptocurrency quickly recovered, closing the day with a 5% gain. This sharp price movement was triggered by former U.S. President Donald Trump's announcement of a proposed 25% tariff on Mexican and Canadian imports, which he later temporarily withdrew.
The resulting market reaction sent shockwaves through global markets, including cryptocurrencies, leaving behind a notable hammer formation (bullish pin bar) on XRP’s chart. This pattern signals strong buying interest and a rejection of lower price levels, particularly below the critical psychological mark of $2.
Currently, XRP is testing a strong support level at $2.2670, a crucial demand zone that has historically provided a solid foundation for price action. If this level holds and XRP gains momentum, it could set the stage for a bullish continuation. Based on historical trends and technical indicators, potential upside targets include $3.2300, $3.7440, and $4.3349.
According to market analyst Javon Marks, XRP is maintaining its position above the pivotal $2.47 support level, which indicates the possibility of a substantial upward movement. If XRP sustains this level, it could pave the way for its next target at $4.804, representing a potential 75% price surge.
Similarly, expert Dark Defender provides a long-term perspective, noting that XRP has completed its 4th Wave in the Intermediate Cycle (marked in dark blue) and is now targeting $5.85 in the 5th Wave. On a larger scale, the Primary Cycle Waves (marked in light blue) suggest an ambitious price target of $18.22. This forecast aligns with Dark Defender’s long-standing projections, dating back to July 23, when XRP was still trading in the $0.40–$0.50 range.
The recent price recovery, coupled with bullish technical indicators like the hammer candlestick pattern, supports the argument for an upward trajectory. DeepSeek AI, a predictive analytics platform, suggests that XRP price could trade in the $3.50 to $5.00 range by late 2025. This forecast is contingent on two key factors: a favorable resolution in Ripple’s ongoing legal battle and increased institutional adoption through its On-Demand Liquidity (ODL) platform.
With strong technical support, bullish market sentiment, and positive institutional developments, XRP appears well-positioned for an upward rally. The cryptocurrency market remains highly volatile, but if key support levels hold and external factors align in XRP’s favor, reaching $5 or beyond seems plausible in the coming months. Investors should closely monitor price action and broader market trends to make informed decisions as XRP continues its journey toward potential new highs.
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