Crypto analyst EGRAG CRYPTO analyses XRP's price movement, questioning if a double bottom is forming or if it's a fake-out.
Key Support and Resistance Levels
EGRAG CRYPTO’s analysis identifies crucial price points traders should monitor. The $2.47 level is critical support, part of the ascending channel. If XRP holds at this level, it could complete a double bottom and reverse its trend. However, failure to hold could lead to a drop towards the $2.00 support zone.
Current Market Position
XRP has experienced significant fluctuations since early 2025. Currently, XRP is trading at $2.46, following a 3.41% decrease from yesterday. Maintaining support and breaking through resistance at $2.63 could indicate a continuation of the uptrend.
Possible Scenarios
If bulls manage to break through $2.7, they could trigger a major rally with short-term targets of $4-$6 and long-term potential reaching up to $60. Otherwise, a drop below $2.00 is possible.
XRP is at a stage where any movement can significantly impact its short-term trajectory. Analysts recommend monitoring key levels to determine the future trend direction.
