Gemini

April

<p>XRP has maintained a price level around $2 for approximately 14 months.</p>
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  <span>Summary</span>
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   <li>XRP entered a correction phase following a rally that began in late 2024.</li>
   <li>The price level near $2 has served as a support zone over the 14-month period.</li>
   <li>Funding rates on major cryptocurrency exchanges have remained predominantly negative since December.</li>
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<p>The cryptocurrency has established a technical consolidation zone at this price point, with market observers monitoring for signs of a potential trend reversal.</p>
<p>According to technical analysis published by crypto analyst Darkfost, there are similarities between current market conditions and patterns observed in April 2025, when the asset experienced a price reversal near the established base level. The analyst cited short positioning dynamics as a contributing factor to that previous movement.</p>
<p>Funding rates on major cryptocurrency exchanges have remained predominantly negative since December, according to data from Binance. Negative funding rates typically indicate a prevalence of leveraged short positions in the market.</p>
<p>XRP entered a correction phase following a rally that began in late 2024. The asset has experienced two previous instances of negative funding rates followed by price increases: between August and September 2024, and during April 2025, according to historical market data.</p>
<p>The asset remains below a descending resistance trendline and horizontal resistance level, which technical analysts identify as barriers to upward price movement. This resistance zone aligns with a Fibonacci retracement level used in technical analysis.</p>
<p>Technical analysis of the weekly chart shows XRP trading below the 9-week Simple Moving Average. The price level near $2 has served as a support zone over the 14-month period, with multiple attempts to break below it failing to sustain downward movement.</p>
<p>The Relative Strength Index, a momentum indicator, has displayed bullish divergence, suggesting reduced downward momentum despite recent price levels, according to technical analysis.</p>
<p>Market analysts state that a weekly closing price above the identified resistance zone would represent a technical breakout, while a sustained move below the support level would indicate further downside potential.</p>
<p>XRP is currently trading near $2, according to CoinGecko. See below.</p>
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 <img width="1024" height="747" src="https://media.crypto.news/2026/01/chart258.webp" alt="XRP technical analysis">
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<p>Read more: <a href="https://crypto.news/gemini-shut-down-nifty-gateway-nft-marketplace-feb/" rel="noopener noreferrer nofollow"> Gemini to shut down Nifty Gateway NFT marketplace in February </a></p>

XRP consolidates at $2 level for 14 months as technical analysts eye potential breakout

crypto.news

Other articles published on Jan 28, 2026

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