XRP Price Enters Golden Pocket: Analyst Says It’s A Good Buy At These Levels

Source Newsbtc

The XRP price has entered a Golden Pocket—a key Fibonacci retracement level that often acts as strong support. According to a crypto analyst, this new development could present an attractive buying opportunity for investors, especially as the market consolidates.

XRP Price Golden Support Could Trigger Rebound

A crypto analyst, known as “ColdBloodedCharter’ on TradingView, has presented a detailed technical chart analysis of XRP, discussing its current position, potential future trends, and key buying levels. The analyst disclosed that XRP is currently inside a Golden Pocket, supported by a 50-day Moving Average (MA) directly below it. 

The analyst noted that his previous analysis from the day before was playing out exactly as planned, with the new Golden Pocket acting as a resistance level when approached from below. On a short-term outlook, the TradingView crypto expert expects no immediate breakout for the XRP price. This bleak forecast is attributed to the possible selling pressure fueled by the recent 500 million XRP escrow unlocks initiated by Ripple Labs earlier this week. 

XRP

The analyst also cited XRP’s current consolidation phase, which started 19 days after hitting a cycle high, as a barrier to an immediate bullish price breakout. The last consolidation phase lasted as long as 39 days after XRP had reached $2.91 on December 3, 2024.

Looking at the analyst’s price chart, XRP formed a Bullish Pennant pattern, which led to an earlier breakout in 2024 before its consolidation phase. Based on this past trend, the TradingView analyst predicts that XRP could experience another two to three weeks of choppy price action before initiating its next big move. The triangle pattern on the XRP price chart suggests a strong rebound towards a bullish price target at $3.43 if the cryptocurrency can hold its Golden Pocket support. 

Key Buy Levels To Watch

While ColdBloodedCharter projects a rally to $3.43 for the XRP price, the TradingView analyst has also outlined key buy-the-dip levels investors can watch out for in preparation for this potential surge. The $2.50 level will be a primary support area for XRP, offering investors a 6-7% discount from current low prices.

If XRP plunges further, the analyst expects it to reach the support levels between $2.25 and $2.30. He reveals that this price level is a much safer entry point and accumulation zone for investors, especially if Bitcoin (BTC) remains above $95,000.

The analyst has also highlighted a steeper support zone between $1.9 and $2.00. This support presents a significant dip-buy opportunity and is expected to occur if Bitcoin experiences a sharp pullback to new lows around $91,000. 

While further market declines will serve as a buying opportunity for many investors, they also pose a risk to those who purchased XRP during price highs. The TradingView analyst has revealed that XRP’s Relative Strength Index (RSI) is cooling down, suggesting weakening market momentum. However, he remains optimistic, predicting a strong reversal soon.

XRP
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Gold Price Forecast: XAU/USD attracts some sellers below $3,250 on firmer US DollarThe Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
Author  FXStreet
May 01, Thu
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
placeholder
Ripple Price Prediction: XRP signals breakout as spot ETF prospects brightenRipple (XRP) price remains firmly supported at $2.20, while trading at $2.22 at the time of writing on Friday.
Author  FXStreet
19 hours ago
Ripple (XRP) price remains firmly supported at $2.20, while trading at $2.22 at the time of writing on Friday.
placeholder
Gold looks set for weekly loss as news of trade talks curb haven demandGold (XAU/USD) trades around $3,250 on Friday,  recovering slightly from two-week lows after three straight days of losses. The losing streak that took place this week was the sum of a whole package of headlines that all had one theme in common: easing on tariffs. 
Author  FXStreet
19 hours ago
Gold (XAU/USD) trades around $3,250 on Friday,  recovering slightly from two-week lows after three straight days of losses. The losing streak that took place this week was the sum of a whole package of headlines that all had one theme in common: easing on tariffs. 
placeholder
Could XRP ETF Approval Be Near? Ripple To Meet SEC Chair Paul Atkins On May 2As positive shifts in cryptocurrency regulation unfold under President Donald Trump’s second administration, speculation is mounting regarding the potential approval of spot XRP ETF applications. 
Author  Bitcoinist
19 hours ago
As positive shifts in cryptocurrency regulation unfold under President Donald Trump’s second administration, speculation is mounting regarding the potential approval of spot XRP ETF applications. 
goTop
quote