XRP Founder Doubles Down On $10 Target As Price Battles $2 Support

Key Insights:

• XRP holds $2 after a 35% drop from January highs.
• Farina maintains a $10 target despite bearish sentiment.
• Analyst warns of potential drop to $1.15 support.

Ripple (XRP) has drawn attention as its price stabilizes around the $2.1 mark. Following a sharp market downturn, it struggles to maintain its position.

Alpha Lions Academy founder Edoardo Farina has publicly reaffirmed his bullish stance despite the drop. He described current conditions as a “walk in the park.” Farina insists that XRP price remains on track for a move to $10, referencing historical precedents and past recoveries.

XRP has declined over 35% from its mid-Jan. High of $3.4, entering the bear market territory. It was trading at $2.1564 on Tuesday, just above the $1.9120 support zone. The slump follows a broader crypto market contraction that wiped out nearly $780 Billion in capitalization since Feb.

Farina Cites $3.4 Rebound as Evidence for XRP Price Recovery

The bullish community member pointed to XRP’s dramatic recovery after the Nov. 2024 dip to $0.4918. At the time, XRP price rebounded and soared over 580% within three months, topping $3.4 by mid-Jan.

Farina believes history could repeat itself, saying he remained confident during the November crash and does so again now.

He also criticized “lettuce hands,” referring to investors who panic-sell during drawdowns. In his view, only those with conviction will benefit if XRP hits his long-standing $10 target.

Bearish Pattern Emerges: Analyst Warns of $1.15 Scenario

While Farina leans bullish, technical analyst ‘Charting Guy’ has offered a cautionary view. He flagged a potential Head and Shoulders formation on the XRP price chart in a post on X.

Although the pattern is irregular, the analyst warned of a worst-case drop to $1.15 if confirmed. He marked this level as a key Fibonacci retracement zone.

Still, the analyst maintained a broader bullish outlook, noting that XRP consistently closes daily candles above $2. He described any drop toward $1.15 as a potential healthy correction in an ongoing uptrend.

ETF Buzz and Institutional Interest Add to Mixed Sentiment

Despite the recent price drop, institutional interest appears to be building. Several firms, including Grayscale, WisdomTree, Canary, and CoinShares, have submitted applications for an XRP exchange-traded fund (ETF).

Polymarket users currently assign an 85% probability of an XRP ETF approval in 2025. Though speculative, the growing interest reflects a shift in perception after Ripple’s legal clarity.

Ripple’s court battle with the U.S. Securities and Exchange Commission concluded earlier this year. CEO Brad Garlinghouse claimed many U.S. firms avoided partnering with Ripple due to the lawsuit.

Ripple Milestones Fail to Boost Price

XRP price performance in the first quarter contradicted its underlying progress. Ripple lost its November surge gains despite securing licenses in New York, Texas, and the UAE. These developments highlight mixed signals in the token’s market performance.

Ripple also launched Ripple USD (RLUSD). It is a stablecoin with nearly $250 Million in market cap and higher daily volume than USDS and PayPal USD. Yet, the launch failed to catalyze XRP price.

A recent tweet by EDO Farina reminded followers of XRP’s utility: “We moved $50M in 3 seconds for 30 cents. Bitcoin and Ether can’t compare.”

With XRP price stuck near $2, sentiment remains divided. Supporters like Farina cite past rallies and legal wins. Bears warn of breakdowns to $1.15 if the current pattern completes.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.