XRP price has remained above a previous consolidation range for over half a year, confirming its recent growth momentum.
Amid the market turbulence, the XRP has persistently ranged along $2. This price action becomes even more discouraging when compared to Bitcoin (BTC). For perspective, Bitcoin has continued to reach new all-time highs since April. In contrast, XRP has failed to even reclaim the $3.4 yearly peak from January 2025.
Despite this gloomy price action, XRP’s current position still represents a massive improvement from previous prices. Specifically, the $0.5 price level, which XRP battled for several years, appears to be gradually now morphing into oblivion.
XRP’s Rollercoaster Ride Around $0.5
Notably, XRP first touched the $0.5 price during the uptrend in December 2017. At the time, the level represented resistance and a new high for XRP. After XRP conquered $0.5 and soared to $3.8 by January 2018, the decline that followed pushed prices back to $0.5.
From March to June 2018, XRP leveraged $0.5 as support, often dropping to this level and then bouncing back. However, between July 2018 and June 2019, $0.5 flipped to resistance, with XRP repeatedly retesting the price level in order to break out of the prevalent bearish trend.
From July 2019, XRP slipped further below $0.5, even hitting as low as $0.11 by March 2020. Meanwhile, from November 2020, it started retesting $0.5 again, eventually breaking above it by April 2021 to reach the $1.96 peak at the time.
Following a correction from this peak, XRP again dropped toward $0.5 as support in June 2021 and then breached below the level by May 2022 amid the Terra collapse. A year later, XRP reclaimed $0.5 on the back of the July 2023 upsurge from Judge Torres’ ruling in the SEC vs. Ripple case.
XRP Appears to Have Now Decisively Transcended $0.5
Nonetheless, the run was unsustainable, and as XRP dropped in August 2023, it resumed its retest of $0.5 as support. This continued until November 2024, when XRP decisively broke above $0.5, conquering both the $1 and $2 psychological levels in the months that followed.
Now, despite the ongoing market uncertainty, XRP has stayed far above the $0.5 level for the longest period ever. Specifically, the last time XRP saw $0.5 was on Nov. 5, 2024. This indicates that it has not revisited the $0.5 mark for 226 days, a new milestone.
Most recently, XRP has been retesting $2, as the price mark repeatedly flips between resistance and support, with a previous report from The Crypto Basic calling $2 the new $0.5 level. Notably, this is a bullish development for XRP, as it is a confirmation that it has grown beyond its past levels.
As XRP now consolidates around $2, several analysts believe it is only a matter of time before it also transcends this region. For one, market analyst EGRAG believes a run toward the $20 range is imminent. Earlier this week, he predicted the XRP cycle top to be around $24. Interestingly, XRP critic Davinci Jeremie also sees XRP reaching $24.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
