The XRP token opened the final month of spring with a modest gain, rising 2.1% on its first day. Despite the strong start, with price trading near $1.39, monthly technical analysis suggests that XRP still faces significant resistance on its path to achieving the "$2 dream target."
There is a significant gap between the current chart price and key trend indicators on TradingView. The price remains well below the middle Bollinger Band at $2.03. To return to this intermediate benchmark, XRP would need to demonstrate a 45% increase from its current level.
The Relative Strength Index (RSI) is at 45.85, indicating that the market is not overbought and still has room to rise. However, current trading volume is insufficient to reverse the overall downward trend.
The 23% upward trend in May has positioned XRP to reach its $2 target.
The main argument supporting the month-end rally is still the token’s historical performance. Historical data shows that May has traditionally been one of XRP’s best-performing months.Crypto Rankings
Over the past 13 years, May has averaged a +23.3% gain. If XRP follows this statistical pattern, the price may consolidate between $1.70 and $1.75 in June, approaching the key mid-line test at $2.03.
The rise on the first day of the month aligns with market expectations for the launch of new financial instruments. The main focus is on May 7, the day the leveraged financing tool is listed. XRP ETF GraniteShares says it will be worth watching whether the volatility during this period can determine the trend direction for the second half of the month.
A strong start in early May is an important sign of recovery, especially considering that the 2.1% gain equals April’s total increase, but the $2 target remains challenging. Achieving this goal will require not only historical momentum but also a breakout above the $1.50 resistance level.