Ripple Price Prediction: XRP offers multiple buy signals targeting $2.50
- XRP extends rebound above $2.16 after Thursday’s 9% drop tested the crucial 200-day EMA support.
- US Unemployment rate steadied at 4.2% in May, with 139,000 jobs added, above forecasts.
- Multiple technical sell signals indicate that XRP is not out of the woods yet.
Ripple (XRP) edges higher after a broader flash sell-off on Thursday, which saw the crypto market capitalization drop 4% to $3.4 trillion. XRP has recovered to trade at around $2.17 at the time of writing on Friday after dropping 9% on Thursday. This uptrend has the potential to continue into the weekend with bulls eyeing $2.50, underpinned by improving sentiment.
XRP offers signals of a lasting rebound as the US adds 139,000 jobs
The US added 139,000 jobs in May, beating expectations of 130,000 payroll gains. According to the Nonfarm Payrolls data released on Friday by the Bureau of Labor Statistics (BLS), the labor market continues to grind slowly, considering the drop in jobs added in May from 147,000 in April.
The unemployment rate held steady at 4.2%, staying close to historical lows. Despite the steady outlook, the US economy appears to be softening, a situation that could influence the Federal Reserve (Fed) interest rate decision later this month.
Experts, including Fed Chairman Jerome Powell, have sounded warnings over President Donald Trump’s tariffs, citing a potential lasting impact on economic growth and inflation.
Mark Zandi, chief economist at Moody’s Analytics, told NBC News that “we’re throttling back — and the damage from the trade war is still coming.”
Zandi added that future inflation data will reflect rising prices as President Trump’s import duties bite. A report released by the Fed on Wednesday, as reported by NBC News, stated that companies across the board anticipate costs and prices to rise at a faster rate going forward.
The cryptocurrency market has wobbled in the last few weeks amid mounting trade tensions and concerns over US tariffs, particularly after a court blocked their implementation. Although an appeals court granted the Justice Department’s request to allow the tariffs to continue pending further resolution, global trade remains on the edge.
Technical outlook: Could XRP steady the uptrend into the weekend?
XRP’s price holds above support provided by the 200-day Exponential Moving Average (EMA) at $2.08 while trading at $2.17 at the time of writing. The recovery that followed the flash crash on Thursday appears to be extending into the weekend, particularly with the Relative Strength Index (RSI) remaining neutral as it moves toward the 50 midline.
Traders also look out for a potential buy signal from the Moving Average Convergence Divergence (MACD) indicator to validate the bullish momentum. This signal manifests when the blue MACD line crosses above the red signal line.
Should the indicator rise above the zero line with the green histogram bars surpassing the same line, the path of least resistance would remain upward.
A confluence created by the 50-day EMA and the 100-day EMA at around $2.26 could hinder the XRP price increase. However, if broken, traders will expand their scope by 15% to $2.50, with a further increase in price toward the psychological supply zone at $3.00, depending on broader market sentiment in the upcoming days and weeks.
XRP/USDT daily chart
The RSI on the 4-hour chart approaches the 50 midline, reinforcing the short-term bullish outlook. Although the MACD indicator has yet to confirm a buy signal, there’s a likelihood of the uptrend holding steady.
XRP/USDT 4-hour chart
On the other hand, a sell signal discussed earlier advises caution among traders. Additionally, XRP is currently trading below key moving averages, including the 50-period EMA, the 100-period EMA, and the 200-period EMA, which suggests that the token remains in a downtrend and losses could resume or even lead to consolidation.
Cryptocurrency prices FAQs
Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
