In a recent analysis, EGRAG CRYPTO, a well-respected and skilled crypto market analyst, shared an updated perspective on XRP’s price movements. With XRP trading at 2.13, the chart outlines critical resistance and support levels that could dictate the next major price movement.
Key Levels to Watch
EGRAG CRYPTO highlighted that XRP is experiencing a period of consolidation, with significant resistance and support levels. Among these, $2.60 is a crucial threshold. A decisive break above this level could signal a bullish continuation and potentially target upper resistance ranges, such as $2.65 and $2.75.
Conversely, a break below $2.00 would place XRP in a more vulnerable position, potentially leading to a retracement toward lower targets. The chart also suggests a symmetrical triangle pattern forming, indicating that a breakout, either upward or downward, is imminent.
#XRP – Noise Until One of These Happens:
Do you remember the resistance levels at $0.60, $0.65, and $0.75? I believe we’re facing similar resistance now, just $2 higher!
$2.60, $2.65, and $2.75.Breaking through these levels… https://t.co/NO52WAiCe0 pic.twitter.com/FtgxcItKDf
— EGRAG CRYPTO (@egragcrypto) December 30, 2024
Resistance Levels and Targets
The analyst noted that historically, XRP has faced critical resistance levels around $0.60, $0.65, and $0.75. Notably, XRP traded around and below these levels for years, before finally breaching them decisively in November following Donald Trump’s victory in the U.S. Presidential election.
These thresholds are now reflected at higher levels, approximately $2 higher. The resistance levels of $2.60, $2.65, and $2.75 represent a challenging zone for the asset.
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If XRP Successfully breaks through the $2.75 barrier, EGRAG CRYPTO believes it will pave the way for further targets. The first potential target from this breakout is $2.91, which would surpass its recent multi-year high of $2.86.
Following that, the next targets are $3.55, and $3.775, placing the digital asset just below its all-time high of $3.84. According to the analyst, the current uncertainty and price consolidation are “noise” until the asset breaks through the resistance levels.
Support Levels, Downside Risks, and XRP’s Future
On the downside, $2.00 serves as a pivotal support level. A confirmed breach below this range could lead XRP to lower targets, such as $1.64 or $1.37. The lowest support highlighted on the chart is $1.22, which would represent a significant decline from current levels.
These levels provide traders with actionable insights. EGRAG emphasized the importance of monitoring $2.00 as a key confirmation level. This support must be held back to prevent further declines.
XRP’s recent price action shows it can sustain itself above $2.75. With many bullish catalysts for XRP in 2025, the digital asset could receive a significant boost and surpass these levels quicker than many expect.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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