Analyst Egrag Crypto analyzed the situation in the XRP market, identifying key support and resistance levels that may influence the currency's future movements.
Critical Levels for XRP
Currently, XRP is hovering in the $2.80–$2.85 range. Egrag noted that multiple closes above $2.85 are needed to confirm further bullish continuation. If achieved, XRP could surge towards $2.90 and $2.95 with a breakout target set at $3.07–$3.13.
This level matters because it represents a confluence of liquidity and technical resistance. Market data indicates that heavy trading activity has clustered around $2.70–$2.84, suggesting strong whale accumulation in this region.
Risks if Confirmation Fails
Egrag also highlighted the downside risk, pointing out that failure to secure closes above $2.85 could invite a retest of $2.77, possibly opening the door to deeper declines. If momentum breaks down, the $2.65 level becomes the next critical line of defense.
Analysts caution that slipping below $2.73–$2.77 could accelerate selling pressure, pushing XRP into a broader correction.
Advice for Traders and Investors
For traders, the roadmap is clear. Success above $2.85 unlocks short-term upside targets, potentially attracting momentum buyers and short-covering flows. Failure at this level demands caution and risk management, as the chart structure could quickly shift bearish.
Investors can take confidence from the precision of Egrag's call but should also prepare for volatility in either direction.
The situation in the XRP market remains tense, and the upcoming sessions will determine whether the asset moves towards $3.13 or slips back to $2.65. All eyes are on $2.85, which will serve as a key determinant for the asset's future trajectory.
