Analyst Egrag Crypto has pinpointed a key level for XRP that could signal bullish movement. Current market conditions and trader recommendations are also discussed.
Why This Range Matters
Closing in the $2.96–$3.03 range is crucial as it shows that buyers have absorbed selling pressure, turning this resistance into support. Such a technical setup lowers the risk of false breakouts.
Current Market Action
XRP has fluctuated between high-$2 and low-$3 levels. It briefly pushed to $3.09 before retracting to around $2.89, indicating a tug-of-war between buyers and sellers. Recent attempts to reclaim the $3 level have been supported by above-average trading volume.
Trading Considerations
Traders should note that a daily close above $3.00 backed by strong volume would be a key continuation signal. Conservative participants may wait for a retest of the breakout zone to confirm it as support.
The $2.96–$3.03 range stands as an essential benchmark for XRP. A close above it could lead to further upward movements, while failure to reach it may prolong consolidation.
