Just before the end of Q1 2025, the much-awaited rounds of a closure of the Ripple vs. SEC made huge rounds across the crypto space. It was seen as a huge win for the crypto community, which could have a huge positive impact on the XRP price in the long term. Meanwhile, the price experienced a short-term positive impact that soon faded and compelled it to remain consolidated around $2.
After the pullback from $2.5, the price is struggling to hold the support at $2 and if the token breaks below the range, a 25% pullback could be imminent. Setting aside the short-term price action for a while, which flashes strong bearish signals, the long-term price action displays the possibility of a rebound. However, the XRP price may continue to consolidate for a while but in the larger perspective, a breakout above $3 seems imminent before the end of Q2.
The weekly chart of XRP suggests the price is trading within the crucial resistance and support zones, which are the tops of 2018 and 2021, respectively. As huge bulls have been trapped within this range, the price has remained stuck within this range. The conversion and base lines of the Ichimoku cloud have been acting as immediate resistance and support levels. As the volume has contracted to the maximum, an explosion may follow soon.
While the MACD shows the growing bearish influence over the token and RSI heading towards the lower threshold, DMI & CMF display the possibility of a rebound. The ADX has already triggered a rebound, which could further assist the +Di & -Di to undergo a bullish crossover. On the other hand, the CMF is juggling in and out of 0, suggesting that the bulls and bears are vigilant over the prevailing price action. Therefore, this suggests both are waiting for a validation to exert pressure, which has been influenced by the market conditions.
Therefore, the possibility of a rise to $3 via $2.5 resistance remains valid until the XRP price holds above $2. However, a drop to $1.8 may certainly not be considered a bearish move, as a rebound from the 2021 highs may elevate the XRP price to form a new ATH in 2025.
