XRP is the COVID-19 of Crypto Finance,’ Gary Cardano Warns Investors Against Ripple

June 10, 2025 - The cryptocurrency market is abuzz with heated debate and cautionary words following a bold statement reportedly made by Gary Cardano, a prominent figure in the blockchain space, comparing XRP to the COVID-19 pandemic in the context of crypto finance. While the veracity of the direct quote remains unconfirmed, the sentiment reflects growing concerns among some corners of the crypto community regarding XRP's regulatory uncertainties, centralization debates, and potential impacts on the broader digital asset ecosystem. This article delves into the controversy, examines XRP's current market position with a live price of $2.31, and analyzes the technical indicators that traders and investors are watching closely.

At a current price of $2.31, XRP finds itself at a pivotal juncture, navigating the complexities of market sentiment, regulatory scrutiny, and evolving technological landscapes. Today we will examine the current state of Ripple.

Source: Binance

XRP's Price Action: A Rollercoaster Ride

XRP's price action over the past few months has been characterized by volatility, punctuated by periods of consolidation and sporadic breakouts. The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) continues to cast a long shadow, influencing investor confidence and driving price swings. Recent weeks have seen XRP oscillating within a defined range, struggling to break free from the gravitational pull of uncertainty.

Early in May, XRP experienced a surge fueled by optimistic sentiments surrounding potential regulatory clarity and positive developments in the Ripple-SEC case. This rally pushed XRP towards the $2.50 level, but it encountered strong resistance, triggering a pullback. The price subsequently retraced to the $2.20 range, where it found some support. However, the market's apprehension regarding the SEC's next moves prevented a sustained upward trajectory.

More recently, the price action has been choppy, with XRP exhibiting signs of indecision. Several attempts to breach the $2.40 resistance level have been met with selling pressure, while support around $2.30 has been tested multiple times. This back-and-forth movement has created a sense of ambiguity, leaving traders and investors uncertain about XRP's short-term prospects.

Technical Chart Patterns: Deciphering the Signals

Analyzing XRP's technical chart patterns provides valuable insights into potential future price movements. One pattern that has garnered attention recently is a symmetrical triangle forming on the daily chart. Symmetrical triangles are typically continuation patterns, suggesting that the price will eventually break out in the direction of the prevailing trend before the triangle's formation. In XRP's case, the preceding trend was bullish, indicating a potential upward breakout. However, it is essential to exercise caution, as symmetrical triangles can also resolve to the downside.

Another pattern that has emerged is a potential ascending triangle on the hourly chart. Ascending triangles are generally considered bullish patterns, characterized by a horizontal resistance level and an ascending trendline connecting higher lows. If XRP successfully breaks above the resistance level of the ascending triangle, it could signal a continuation of the upward trend and potentially lead to further gains.

Conversely, a breakdown below the ascending trendline could invalidate the pattern and trigger a corrective move. Traders should closely monitor these patterns and await confirmation before making trading decisions.

Key Support and Resistance Levels

Identifying key support and resistance levels is crucial for understanding potential price targets and risk management strategies. Currently, the most significant resistance level for XRP is around $2.40. This level has acted as a barrier on multiple occasions, preventing XRP from advancing higher. A decisive break above $2.40 could pave the way for a test of the $2.50 level and potentially beyond.

On the downside, the immediate support level lies around $2.30. This level has proven to be a reliable area of demand, providing a cushion against downward pressure. A sustained break below $2.30 could lead to a retest of the $2.20 support level, which represents a more significant area of defense.

Traders often use these support and resistance levels to set entry and exit points, as well as to determine stop-loss orders. Monitoring these levels closely can help manage risk and improve trading outcomes.

Technical Indicators: Unveiling the Underlying Trends

Technical indicators provide valuable insights into the underlying trends and momentum driving XRP's price action. Let's examine a few key indicators:

Moving Averages

Moving averages (MAs) are commonly used to smooth out price data and identify the direction of the trend. The relationship between short-term and long-term moving averages can offer valuable signals. For instance, a "golden cross," where the 50-day moving average crosses above the 200-day moving average, is often interpreted as a bullish sign. Conversely, a "death cross," where the 50-day moving average crosses below the 200-day moving average, is seen as a bearish signal.

Currently, XRP's 50-day moving average is hovering near the $2.28 mark, while the 200-day moving average is around $2.15. The fact that the 50-day MA is above the 200-day MA suggests that XRP is in a long-term uptrend. However, the proximity of the 50-day MA to the current price indicates that the trend is not particularly strong and could be vulnerable to a reversal.

Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of an asset. RSI values range from 0 to 100. An RSI above 70 is typically considered overbought, suggesting that the price may be due for a pullback. Conversely, an RSI below 30 is considered oversold, indicating that the price may be poised for a rebound.

As of today, XRP's RSI is around 55. This value suggests that the market is neither overbought nor oversold, indicating a neutral momentum. However, traders should watch for potential divergences between the RSI and the price action, which could signal a trend reversal.

MACD (Moving Average Convergence Divergence)

The Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of a security's price. The MACD line is calculated by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA. A nine-period EMA of the MACD, called the "signal line," is then plotted on top of the MACD line. Crossovers between the MACD line and the signal line can provide trading signals.

Currently, XRP's MACD line is slightly above the signal line, indicating a bullish trend. However, the difference between the two lines is narrowing, suggesting that the bullish momentum may be waning. Traders should watch for a potential bearish crossover, which could signal a trend reversal.

Trading Volume

Trading volume is an important indicator of market interest and conviction. High volume typically accompanies significant price movements, confirming the strength of the trend. Conversely, low volume suggests a lack of conviction and may indicate a potential trend reversal.

In recent weeks, XRP's trading volume has been relatively subdued, suggesting a lack of strong conviction in either direction. This could be attributed to the ongoing legal uncertainties and the market's hesitancy to take on significant risk. A surge in trading volume, accompanied by a breakout above resistance or a breakdown below support, could provide valuable clues about XRP's future trajectory.

Fibonacci Retracement Levels

Fibonacci retracement levels are horizontal lines that indicate potential support and resistance levels based on Fibonacci ratios. These ratios are derived from the Fibonacci sequence, a series of numbers where each number is the sum of the two preceding ones (e.g., 1, 1, 2, 3, 5, 8, 13, 21, etc.). The most commonly used Fibonacci retracement levels are 23.6%, 38.2%, 50%, 61.8%, and 78.6%.

Applying Fibonacci retracement levels to XRP's recent price swing, we can identify potential areas of support and resistance. For instance, the 38.2% retracement level might act as a minor support, while the 61.8% retracement level could serve as a resistance. These levels can be used to identify potential entry and exit points, as well as to set stop-loss orders.

Market Sentiment and Fundamental Factors

The market sentiment surrounding XRP is a mixed bag, influenced by a complex interplay of factors. On one hand, the ongoing legal battle with the SEC continues to weigh on investor confidence, creating uncertainty and limiting upward potential. The SEC's allegations that Ripple engaged in unregistered securities offerings have cast a long shadow over the token's future, raising questions about its regulatory status and long-term viability.

On the other hand, Ripple has been making progress in expanding its cross-border payment solutions and forging partnerships with financial institutions around the world. These developments have instilled optimism among some investors who believe that XRP has the potential to become a major player in the global payments landscape. Ripple's technology, which aims to facilitate faster and cheaper cross-border transactions, has attracted interest from banks and payment providers seeking to modernize their operations.

Regulatory developments also play a crucial role in shaping XRP's market sentiment. Any positive news regarding the Ripple-SEC case, such as a favorable ruling or a settlement agreement, could trigger a significant rally in XRP's price. Conversely, a negative outcome could lead to further downside pressure.

Broader market trends also influence XRP's price action. When the overall cryptocurrency market is bullish, XRP tends to benefit from the rising tide. Conversely, during bearish periods, XRP often experiences selling pressure along with the rest of the market.

Competitor performance is another factor to consider. The success or failure of other cross-border payment solutions and blockchain-based financial technologies can impact XRP's competitive position. If competing projects gain significant traction, it could diminish XRP's appeal and negatively affect its price.

As of June 10, 2025, XRP is trading at $2.31, with a slight increase of 0.01762% from the previous close.

Recent analyses from reputable sources provide insights into XRP's current price action and technical factors.

For instance, a recent tweet from a cryptocurrency analyst highlights the potential impact of upcoming regulatory decisions on XRP's price trajectory. Twitter Post

Additionally, a trader's analysis emphasizes the importance of the $2.30 support level, suggesting that maintaining this level could signal bullish momentum for XRP. Twitter Post

These perspectives underscore the dynamic nature of XRP's market and the various factors influencing its price movements.

Potential Trading Strategies

Based on the current technical and fundamental outlook, traders might be considering the following strategies:

- Range Trading: Given XRP's recent price consolidation within a defined range, some traders may opt for a range trading strategy. This involves buying XRP near the support level ($2.30) and selling it near the resistance level ($2.40). The goal is to profit from the price fluctuations within the range. - Breakout Trading: Other traders may be waiting for a decisive breakout above the resistance level or a breakdown below the support level. A breakout above resistance could signal the start of a new uptrend, while a breakdown below support could indicate the beginning of a downtrend. Traders who employ this strategy typically enter a long position after a breakout above resistance or a short position after a breakdown below support. - Trend Following: Trend followers seek to identify and capitalize on established trends. If XRP is in an uptrend, trend followers may look for buying opportunities during pullbacks or consolidations. Conversely, if XRP is in a downtrend, they may look for selling opportunities during rallies or consolidations. - Swing Trading: Swing traders aim to capture profits from short-term price swings. They typically hold positions for a few days or weeks, taking advantage of the volatility in the market. Swing traders often use technical indicators to identify potential entry and exit points. - Long-Term Investing: Some investors may take a long-term approach, focusing on the fundamental value of XRP and its potential for future growth. These investors are less concerned about short-term price fluctuations and more focused on the long-term prospects of the technology and the company behind it.

Short-Term Price Analysis

In the short term, XRP's price action is likely to be influenced by the ongoing tug-of-war between bulls and bears. Based on the current technical setup and market conditions, here are potential price targets for both bullish and bearish scenarios:

Bullish Scenario

If XRP manages to break above the $2.40 resistance level, the next target would be the $2.50 level. A successful breach of $2.50 could open the door for a test of higher levels, potentially reaching $2.60 or even $2.70. In this scenario, positive news regarding the Ripple-SEC case or a broad-based cryptocurrency rally could provide the necessary catalyst for XRP to move higher.

Bearish Scenario

Conversely, if XRP fails to hold the $2.30 support level, the next target would be the $2.20 level. A sustained break below $2.20 could trigger a further decline, potentially leading to a retest of the $2.10 level or even lower. In this scenario, negative news regarding the Ripple-SEC case or a general market downturn could exacerbate the downward pressure on XRP.

It is important to note that these are just potential price targets, and the actual outcome may differ depending on various factors. Traders should always use risk management techniques, such as setting stop-loss orders, to protect their capital.

Expert Analysis: YouTube Video Insights

To gain further insights into XRP's price action and potential future trajectory, let's examine two recent YouTube videos from reputable sources:

Video 1: XRP Deep dive. A Technical Analysis Masterclass With CredibleCrypto

This video provides a comprehensive technical analysis of XRP, examining various chart patterns, indicators, and potential price targets. The analyst offers valuable insights into the key levels to watch and the potential scenarios that could unfold.

Video 2: Ripple XRP News - XRP BREAKING: Nasdaq's Big Move on Ripple XRP Changes Everything! (Must Watch)

This video discusses recent news and developments surrounding Ripple and XRP, including potential impacts on the price. The analyst provides an overview of the key factors that could influence XRP's future trajectory.

Conclusion: Navigating the Volatile Crypto Landscape

XRP's current market position is characterized by a complex interplay of technical factors, fundamental developments, and market sentiment. The ongoing legal battle with the SEC continues to cast a long shadow, creating uncertainty and influencing investor confidence. However, Ripple's progress in expanding its cross-border payment solutions and forging partnerships with financial institutions provides a glimmer of hope for long-term growth.

The technical indicators suggest that XRP is currently in a neutral state, with no clear trend established. The price is oscillating within a defined range, struggling to break free from the gravitational pull of uncertainty. Traders should closely monitor key support and resistance levels, as well as potential chart patterns, to identify potential trading opportunities.

It is important to emphasize that cryptocurrency trading is inherently volatile and carries significant risks. The price of XRP, like other cryptocurrencies, can fluctuate wildly in response to various factors, including regulatory developments, market sentiment, and broader economic trends. Investors should always conduct independent research and seek professional advice before making any investment decisions.

Risk management is crucial for navigating the volatile crypto landscape. Traders should always use stop-loss orders to limit potential losses and avoid investing more than they can afford to lose. Diversifying investments across different asset classes can also help mitigate risk.

In conclusion, XRP's future remains uncertain, but its potential for innovation and disruption in the global payments landscape is undeniable. By staying informed, conducting thorough research, and employing sound risk management techniques, investors can navigate the volatile crypto landscape and potentially capitalize on the opportunities that XRP may offer.