Key Support, Resistance, and What to Expect On May 19

XRP will officially be listed on the Chicago Mercantile Exchange (CME) Futures platform starting May 19, 2025. CME is one of the most respected derivatives exchanges in the world, and this move is a big milestone for XRP. As excitement builds around this announcement, let’s take a look at the latest price action for XRP and what traders should be watching in the days ahead.

XRP Price Holding Key Support

On the three-day chart, XRP is currently holding support just above the $2.30 level, specifically between $2.33 and $2.34. This area has been acting as a strong floor for the price in recent days.

In the short term, as long as XRP remains above this support, there’s room for stability. However, if the price starts closing candles below $2.30, there’s a risk of a further decline. In that case, the next important support zone lies between $2.12 and $2.15.

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Resistance Levels to Watch

If XRP manages to bounce from current levels, the next strong resistance between $2.56 and $2.62. This zone, known as a golden pocket resistance area, has historically acted as a barrier for upward moves. It will be a critical level to watch if the price attempts a recovery.

Could a Bullish Pattern Be Forming?

Despite the skeptical short-term outlook, there could be a bullish setup developing. If XRP drops further towards $2.12 and then stages a solid rebound, it might form a large inverse head and shoulders pattern.

This is a classic bullish chart formation that, if confirmed, could signal a significant upward move in the future. However, it’s important to note that this pattern has not yet formed or confirmed. It would require a further pullback, a clear bounce, and a breakout above the $2.56–$2.62 resistance zone to be considered valid.

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