The price of **XRP** is currently up over 2%, trading at around $2.30. This increase follows a broader recovery in the crypto market, with **Bitcoin** steadily climbing and **Ethereum** leading the way with an 8% surge. As **Ethereum** rises, smaller altcoins like **XRP** are also on the upward trend.
**XRP** is showing a bullish divergence, indicating a potential price bounce. Despite the price making lower lows, indicators like the RSI are showing higher lows.
### XRP Finds Support, Eyes New Targets
Analyzing the daily charts, **XRP** recently rebounded from a strong support zone between $2.00 and $2.10. If the price drops below $2.00, there is a risk of it falling towards $1.92-$1.95, or even as low as $1.80. Currently, the bullish momentum remains strong.
### Bullish Pattern Taking Shape
A positive sign for **XRP** is the formation of a double bottom pattern on the charts, signaling a potential upward breakout. The next target price, if this pattern plays out, is around $2.44. However, **XRP** might encounter resistance around $2.35, a level that previously acted as both support and resistance.
### Long-Term Outlook: Could $5 Be Next?
**XRP** seems to be in the midst of a fifth wave to the upside, starting in April after a market correction. If current support levels hold, prices could potentially surpass $5.00 in the coming months. Analysts suggest that as long as **XRP** remains above the April lows and maintains its upward trajectory, the bullish trend may persist. A break below these crucial support levels could delay the rally, indicating an ongoing correction phase in the market.
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