XRP is showing a rare sign of strength against Ethereum, according to crypto analyst Matt Hughes. He highlights that the XRP/ETH pair is flipping a key two-week Ichimoku cloud level to support—something that hasn’t held meaningfully since 2021. Hughes sees this as a potential major shift, suggesting XRP could be poised to outperform ETH if the level holds as a floor.
Meanwhile, in USD terms, XRP remains stuck within a defined range on shorter timeframes. Hughes identifies a clear threshold: a sustained close above $2.30 is needed to break the current consolidation and allow the price to advance toward targets at $2.59 and $2.95. On a weekly chart, his longer-term bullish scenario points to extension levels near $3.10 and, eventually, $9.00—but only if XRP can first turn the $3.09 area into support.
The failure case is straightforward: if XRP cannot close above $2.30, the range-bound structure stays in place, with the risk of a pullback toward $1.78. However, Hughes dismisses bearish sentiment, arguing the chart structure clearly suggests a breakout is underway.
At the time of writing, XRP is trading at $1.98.
Frequently Asked Questions
Of course Here is a list of FAQs about XRP achieving a significant milestone not seen since 2021 framed in a natural conversational tone
Beginner General Questions
1 What has XRP done that it hasnt done since 2021
XRP has decisively broken above and held a key longterm price level that it has been unable to sustain since its sharp decline following the alltime high in 2018 and subsequent legal battles
2 Why is breaking a price level from 2021 such a big deal
Because 2021 was the last major bull market Being stuck below that level for nearly three years signaled a long period of consolidation and uncertainty largely due to the SEC lawsuit Breaking above it suggests the market is moving past that legal overhang and recognizing new strength
3 Does this mean XRPs legal problems with the SEC are over
While not completely over the most critical phase is In July 2023 XRP achieved a major victory when a judge ruled that it is not a security when sold to the general public This clarity removed a massive cloud of uncertainty that had been suppressing its price and adoption since 2020
4 Whats the simplest reason this price move is significant
Think of it like a dam breaking The 080 level acted as a dam holding the price back for years Breaking through it means a huge amount of pentup buying pressure and optimism is finally being released which can lead to much higher prices if the momentum continues
5 Should I buy XRP now because of this
This is not financial advice Cryptocurrency is volatile and risky While the milestone is positive you should only invest what you can afford to lose do your own research and understand that prices can go down as easily as they go up
Intermediate MarketFocused Questions
6 What typically happens after an asset breaks a major multiyear resistance level
Technically it often becomes a new support level The market psychology shifts and investors who bought at lower prices feel more confident while new investors see the breakout as a signal of strength This can fuel a sustained upward trend though pullbacks to test the new support are common