XRP Price Analysis for May 6

XRP current trend and price range

Figure 1 shows the daily trend chart of XRP/USDT. From the image, it can be clearly seen that after the white price resistance range indicated at $2.2 - $2.3 was touched, the price immediately experienced a significant pullback, but still oscillated within the yellow descending triangle trend, with no structural change in the overall trend.

(Figure 1, Source: TradingView 2025.5.6)

XRP Focus on and target price

Figure 2 shows the 4-hour chart of XRP/USDT. The current price is around 2.10 and is oscillating between two distinct ranges. The gray area in the upper part of the chart indicates the price pressure zone around 2.23 - 2.30. This area has repeatedly acted as resistance since mid-April, with the price failing to break through effectively each time it was tested. The support zone below is around 2.03 - 2.06, which has prevented the price from further decline several times and is an important short-term support.

If it fails to hold steady in the future, be cautious of the possibility of the price falling below and probing the next key integer support around 1.90; conversely, if there is a clear rebound with an increase in trading volume at this support zone, there is a chance to challenge the upper resistance zone again, further breakthrough requires observation of whether it is accompanied by effective trading volume.

(Figure 2, Source: TradingView 2025.5.6)

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Summary

XRP is currently maintaining a range-bound pattern. The short-term key support is in the range of $2.03 - $2.06. If held, there is a chance to challenge the resistance zone near $2.30 again. Further breakthrough requires observation of volume support. Conversely, if the price falls below support, attention should be paid to the risk of retracing to $1.90. Adopting a range response strategy and closely monitoring whether there are clear changes in trading volume and price structure will be the top focus next.