XRP continues to trade around $2.21, on the brink of key resistance at $2.22. Analysts are watching for a possible breakout past this level.
Resistance Test
The $2.22 resistance level has become a focal point for XRP in recent weeks. According to chart data by Egragcrypto, the token has tested this level several times without confirming a sustained breakout. A confirmed break above this level with repeated daily closes could change the market momentum and facilitate a move toward higher prices, with significant marks of resistance found at $2.36 and $2.65.
Support Holds Strong
Below the current price action, support appears to be firm around $2.17. This level has effectively absorbed selling pressure, keeping XRP within a tightly bound trading channel. A secondary support level lies at $2.04, providing a buffer against broader downside risks. Analysts view the continuous respect of these levels as a sign of sustained buyer interest despite the uncertainty surrounding a breakout.
Triangle Formation Ahead of Breakout
A visual review of the chart suggests XRP is forming a compressed price structure, typical ahead of breakout attempts. The descending trendline intersecting with horizontal resistance forms a triangular pattern, often associated with accumulation phases. If historical behavior is any guide, a decisive move, either up or down, could be approaching.
XRP is in a position where a breakout above $2.22 could lead to heightened volatility. Given the current status of the asset, signals for a possible upward movement are becoming increasingly relevant.
