Crypto analyst EGRAG CRYPTO has recently updated his XRP price analysis, emphasizing critical support and resistance levels.
Updated XRP Analysis
The 12-hour chart reveals XRP successfully closed above $2.60, indicating buyer strength. However, resistance at $2.85 remains a hurdle. The most crucial support level is $2.30, and losing it could lead to a decline toward $1.90 and $1.67.
Potential Breakouts and Key Price Targets
The updated chart suggests XRP may consolidate within the $2.30–$2.85 range before making a decisive move. Closing above $3.11 could signal a new rally. EGRAG CRYPTO’s analysis points to $3.40 as a short-term target, with a potential new all-time high at $4.
External Factors Impacting XRP
Beyond technical patterns, XRP’s price movement is influenced by market sentiment and regulatory developments. The recent SEC dismissal of its case against Coinbase suggests the Ripple lawsuit may be next, potentially boosting XRP.
XRP is in a holding phase, with future movements depending on market conditions and regulatory developments. Closing above key levels could set XRP on the path to a new all-time high.
