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Key Insights:
- XRP breaks 6-month resistance, targeting $5.85 to $66.96 using Fibonacci levels.
- XRP sees first outflow in 80 weeks as market rotates despite bullish breakout.
- Dubai picks XRP Ledger for $16B real estate tokenization project, boosting adoption.
XRP has broken its 6-month resistance for the first time in years, sparking new price targets from analysts. Fibonacci projections now range from $5.85 to as high as $66.96.
While technicals look bullish, XRP recorded $37.2 million in outflows—the first in 80 weeks—raising questions about momentum.
XRP Smashes Multi-Year Resistance With Bold New Price Targets
For the first time in years, XRP has broken above its 6-month resistance. According to Dark Defender, the token broke through the resistance line around $1.88, which had been in place since 2018.
The breakout is a confirmation of a higher time frame shift in price structure. Support levels are now at $2.22 and $1.88. These are the zones that would make for a base if prices pull back.
The analyst also projects future targets using Fibonacci extension. Potential levels are $5.85 and $18.22 in what he calls Wave 3.
Targets more extended include $36.76 and $66.96, near the 423.6% and 476.4% levels. He also paints a long-term technical analysis that assumes continued strength and outlines a five-wave structure.
Dubai’s $16B Blockchain Bet Puts XRP Ledger in the Spotlight
On the other hand, Dubai Land Department has announced a $16 billion real estate tokenization project on XRP.
This is a big real-world use case tied to the XRP Ledger. The project may help increase transaction volume and developer interest on XRP’s native network by bringing real estate onto blockchain rails.
On top of that, a new bill introduced in Florida seeks to exempt capital gains taxes on assets such as Bitcoin, XRP and even traditional stocks for Florida residents. If it passes, it would be the first state-level exemption for capital gains on digital assets.
The proposal aims to draw crypto investors and businesses to Florida and to make Florida a crypto-friendly hub. The bill would still apply federal capital gains taxes, but would provide state-level tax relief, which supporters say would make Florida a magnet for digital asset adoption and institutional capital.
Outflows Recorded for First Time in 80 Weeks
However, XRP saw outflows of $37.2 million, its first weekly outflow in 80 weeks, according to CoinShares data. The drop came at a time of broader market rotation and as other digital assets see increased inflows. The token saw steady investor interest for over a year, with inflows into the asset.
Total crypto inflows across all coins also rebounded to near $3.5 billion for the week ending May 23, crypto asset flow data shows.
As such, XRP saw its first outflow while the broader market saw growing interest. Ripple’s move could be part of normal portfolio adjustments or short-term profit-taking after its breakout.
XRP Price Climbs, But Retail Interest Stays on the Sidelines
XRP search trends remain flat compared to wider crypto-related terms. According to Google Trends data from the last 12 months, “crypto” had consistently outperformed “XRP” in web searches. XRP searches spiked the most around October 2024 but have dropped since then.
With XRP’s breakout and positive news, retail attention has not yet returned. Sometimes, market participants see low search activity as a signal that large-scale retail engagement has not begun.
That can go either way: it could be less hype-driven buying, but there could be growth potential if awareness goes up later.
Large investors and institutions are perhaps interacting with XRP for technical or strategic reasons, but retail participation is yet to catch up. If the XRP price continues on an upward trend, it will be important to watch for changes in online activity and social engagement.
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.
