XRP Price Prediction As An Indian Court Prevents WazirX From Reallocating A User’s Tokens

The XRP price dropped over 1% in the past 24 hours to trade at $2.61 as of 5:43 a.m. EST on trading volume that surged 21% to $4 billion.

That’s as the WazirX exchange, through its Indian operator Zanmai Labs Pvt Ltd, has been barred by the Madras High Court from reallocating a user’s XRP holdings following a 2024 $230 million hack of the exchange.

Although the user’s holdings were not directly affected by the hack (which involved Ethereum and ERC-20 tokens), WazirX sought to include the user’s XRP in its Singapore-based restructuring and loss-sharing plan.

The user had transferred funds from an Indian bank account and used the platform in India, giving the court jurisdiction despite the Singapore arbitration seat.

XRP Price Poised For A Recovery Above Key Resistance Levels

The XRP price has been consolidating within a falling channel since mid-August, following a significant rejection at $3.66.

That correction phase saw the Ripple token price retrace deeply to the $2.18 zone, forming a key support level at the 0 Fibonacci retracement level.

Over the past few weeks, however, XRP has shown early signs of recovery, supported by improving momentum on the daily timeframe.

After several tests of the $2.18 base, buyers have successfully defended this region, helping XRP establish a short-term foundation for a potential upward reversal.

The recovery has pushed the Ripple token price to around $2.61, as it attempts to reclaim both the 200-day Simple Moving Average (SMA) at $2.60 and the 0.236 Fibonacci level near $2.68.

At the same time, the 50-day SMA, currently at $2.77, serves as the next critical resistance level. This level has historically capped short-term bullish momentum, and a successful breakout could validate the ongoing recovery.

Meanwhile, the 200-day SMA, which XRP is now testing, represents an important pivot, a sustained close above it would signal that the broader downtrend is weakening.

Moreover, the Relative Strength Index (RSI) has climbed back to a neutral level at 51.23, indicating that market momentum is shifting from bearish to neutral-bullish territory.

Ripple Price Prediction: Bulls Target The $3.07 Resistance

According to the XRP/USD price analysis, the token is attempting to confirm a breakout from the falling channel.

If buyers maintain control above the 200-day SMA and push the price of XRP beyond the 50-day SMA at $2.77, the next upside targets align with key Fibonacci retracement levels.

The 0.382 Fib level at $2.86 and the 0.5 Fib at $3.07 represent the first major resistance zones. A move above $3.07 could open the path toward the 0.618 Fibonacci level at $3.28, where stronger selling pressure is expected.

Conversely, if XRP fails to hold above the 200-day SMA, the $2.18 zone remains a crucial support area. Sustained bearish pressure below this level could push the token back into its previous consolidation range.