XRP price drops to $2.19 due to market sell-off, but analysts see potential bullish trend

From Cointelegraph

March 30, 2025 06:39:00 AM:

XRP has dropped nearly 40% to around $2.19, two months after hitting a multi-year high of $3.40. The cryptocurrency is tracking a broader market sell-off due to President Donald Trump’s trade war, despite bullish news like the SEC dropping its case against Ripple. XRP is still up 350% from its November 2024 low of $0.50. Analysts suggest a potential long entry at $1.77 support level. XRP remains in a sideways structure until a clean breakout above $3.21 confirms a bullish trend reversal.

Analyst CrediBULL highlighted XRP’s sideways range as a consolidation zone, potentially forming a bull flag which may lead to a 450% price rally if XRP breaks above $3.21. A bull flag forms when the price consolidates inside a parallel channel after a strong uptrend and resolves when the price breaks above the upper trendline.

XRP is currently consolidating within a long-term bullish structure, trading inside a five-year ascending channel. Despite the pullback, the broader bullish cycle remains intact as long as XRP holds above the 50-week moving average. InvestingScoope notes that this phase mirrors March 2021, which preceded a strong breakout, suggesting a potential target of $6.50 in the months ahead.

Read more at Cointelegraph: Is XRP price around $2 an opportunity or the bull market’s end? Analysts weigh in