Bitcoin is approaching a crucial resistance level on daily charts, recently reversing after reaching $94,919. A break above $95,000 could trigger similar rallies in altcoins. Currently, XRP, ADA, and Dogecoin are down over 2%.

XRP shows a long-term bullish trend, with analysts predicting another price surge before a significant correction. However, the short-term outlook is less certain. Recent price action lacks clear structure. While minor support exists between $2.16 and $2.26, momentum is weak. A fall below $2.11 would negate the current bullish wave count and potentially delay any rally.

Analyst EGRAG Crypto anticipates a strong monthly close for XRP, potentially reaching $27, with a possible target as high as $55 based on chart analysis.

Bitcoin's May Performance:

A Bitcoin rally could positively impact XRP and other altcoins. While the adage "Sell in May and go away" exists, Bitcoin's 15-year history shows gains in May 9 out of 15 years (67%). Coinglass data reveals an average May return of over 7.9% for Bitcoin over the past 12 years. While this historical data is encouraging, it doesn't guarantee future performance.