XRP is gaining momentum, with analysts outlining potential price targets, including triple-digit valuations in future cycles. Egrag Crypto notes a bullish trend with prices possibly reaching $13 soon.
Technical Pattern Suggests Potential Breakout
Egrag Crypto notes a bullish setup that indicates further price expansion. A developed pattern shows a measured move forming within an arc, confirming the expected price movement. The breakout from this pattern aligns with historical movements, supporting the likelihood of XRP reaching new price levels. According to Egrag Crypto, historical data suggests XRP may enter a multi-phase rally with the first high at $13, potentially moving into the $32 to $110 range.
XRP Holds Key Support Levels
XRP has maintained strength above important support at $2.74. The market experienced a parabolic rally following a breakout from a descending wedge, pushing the asset above $2.50. The price is now consolidating, forming a potential continuation pattern that could fuel another upward move. If XRP remains above the ascending trendline, further increases beyond $3 are increasingly likely.
Levels to Monitor for XRP’s Next Move
The ascending trendline is a vital support level, with $2.50 being the first major support in case of a pullback. A drop below this level could lead to a retest of $2.20, with additional downside risk if bearish pressure intensifies. However, if XRP maintains its current upside, a move past $3 could lead to a rally toward higher resistance levels.
The XRP market shows significant growth potential, and a breakout above key levels could pave the way for new price horizons.
