XRP Price on Edge, EGRAG Crypto Highlights $2 Resistance as Gateway to $15 and Beyond!

Sean Williams
Ripple XRP

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XRP, one of the most discussed cryptocurrencies, is poised for a significant breakout. According to popular crypto analyst EGRAG CRYPTO (@egragcrypto), XRP is on the cusp of breaking a crucial resistance level at $2, potentially signaling a bullish phase in its price trajectory. With just over two days left in the year, EGRAG CRYPTO shared a chart that highlights XRP’s yearly price action, emphasizing the importance of this key level.

Historical Context and Current Outlook

XRP’s journey has been anything but conventional. The asset first traded in the “Area A” range, fluctuating between $0.006 and $0.03, before its meteoric rise in 2017. This rally pushed XRP to its all-time high of $3.84 in January 2018, transitioning it to “Area B” with a support range near $0.35. Since then, XRP has remained in this range, despite occasional price fluctuations.

However, for the first time in its history, XRP is closing out the year above $2. It broke this crucial level in early December, shortly after the announcement of SEC Chair Gary Gensler’s resignation, which stirred optimism in the crypto market. As of the latest analysis, XRP is trading at $2.14, holding steady above the $2 level. This is a critical point, as surpassing this resistance could pave the way for XRP’s next price rally.

Future Price Targets: What’s Next for XRP?

EGRAG CRYPTO’s analysis presents an intriguing outlook for XRP’s future. The analyst has outlined $15 as a potential target, calling it the “Valhalla” zone on the chart. This level represents the next major support area if XRP manages to break above $2 and enter a new phase in its price journey. A $15 target marks a significant rise from current levels and could serve as a base for even further growth.

Interestingly, EGRAG CRYPTO has previously suggested that XRP could reach as high as $27, with the next price zone surpassing $140. While these targets may seem ambitious, they indicate the potential for substantial growth should XRP continue to break through key resistance levels.

Also Read: XRP Price Set for Major Breakout as This Analyst Predicts 154% Surge to $5.60 by January 2025

A Pivotal Moment for XRP

As the year concludes, XRP finds itself at a crucial juncture. Breaking above $2 would not only mark a major milestone in its yearly performance but also set the stage for potential future growth. With XRP’s price action capturing the attention of both investors and traders, the coming weeks could prove pivotal for the cryptocurrency’s long-term trajectory.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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