The XRP token is moving into a key market phase, reaching a supply zone. EGRAG CRYPTO's analysis highlights the importance of the $2.35 level as a potential breakout.
Current State Analysis of XRP
XRP has moved into the so-called 'Heavy Supply Zone' on the charts. According to EGRAG CRYPTO's analysis, the token has reached the upper end of its trading range, which lies above the resistance band and the $2.3500 level. In recent months, XRP has found it challenging to break through this zone, showing repeated resistance at this level followed by consolidation in the 'Range Support' zone.
Key Zones and Price Targets for XRP
XRP's structure is divided into clearly defined zones. Below $2.00 lies the 'Heavy Demand Zone', which served as a foundation during past price corrections. Between $2.00 and $2.3500 is the 'Range Support', from which XRP has previously bounced. EGRAG CRYPTO emphasizes the significance of Monday's trading session, suggesting it may confirm whether this breakout is sustainable.
Prospects for XRP Movement
Currently, XRP is trading near the upper boundary of this structure at $2.76, reflecting a 10.6% gain in the past 24 hours. Traders are closely watching the $2.3500 level as a significant pivot. If XRP holds above this level and avoids a pullback, the next target lies within the 'Heavy Supply Zone'. A clean break here could signal the beginning of a new price trajectory.
XRP is at a crossroads: holding above the $2.3500 level may pave the way for new milestones, while a drop below this level could cast doubt on bullish sentiment.
