XRP’s price momentum has slowed after a strong surge in November, when it exceeded its 2021 top of $1.96 and reached $2.9097, marking an impressive 100% gain. However, since that peak, XRP has retraced by about 25%, briefly dipping below $2 last week during a broader market retracement. Now, with its price currently hovering around $2.1706, market analysts are closely watching two critical price levels to determine the token’s next direction.
Two Crucial XRP Levels: $2 and $2.65
Market analyst Egrag Crypto suggests that XRP will likely continue fluctuating within a range of $2 to $2.9 until it breaks one of these two key levels. According to Egrag, anything in between is just “noise” and won’t provide meaningful clues about XRP’s long-term trajectory.
#XRP – Noise Until One of These Happens 🚨
— EGRAG CRYPTO (@egragcrypto) December 26, 2024
🔑 Key Levels to Watch:
1️⃣ $2.00 – A confirmed break here, and we’ll be heading toward the lower targets.
2️⃣ $2.65 – Break this level, and fireworks will ignite! 🚀 The upper targets will be in play! 🎯#XRPFamily STAY STEADY AND… pic.twitter.com/sDPUwY3fyK
A break below $2 could spell trouble for XRP, with the token potentially targeting lower levels like $1.64 and even $1.37, based on chart analysis. On the other hand, if XRP manages to push past the $2.65 resistance level, it could trigger a bullish breakout, sending the asset toward higher prices. Analysts suggest targets such as $3 and $5 are possible if this upward momentum materializes.
Symmetrical Triangle Formation Signals Potential Bullish Move
Meanwhile, another analyst, Gordon, points to an optimistic future for XRP, despite the recent downtrend. In a recent tweet, he noted that XRP’s chart is one of the most bullish in the crypto market. Gordon identified a symmetrical triangle pattern forming on XRP’s 12-hour chart, which often indicates a breakout when the price moves out of the consolidation zone.
XRP is getting ready to EXPLODE🚀
— Gordon (@AltcoinGordon) December 26, 2024
Is there a more bullish chart in crypto right now?
A new all time high is coming 🤯 pic.twitter.com/Eo2mh2cLlV
According to Gordon, a breakout from this bullish pattern could propel XRP to new all-time highs, signaling a continuation of its uptrend.
The Next Move for XRP
As XRP trades at $2.1706, down 6% in the past 24 hours, traders and investors are waiting to see whether it will break out to the upside or experience further declines. The next few weeks could be crucial in determining whether XRP can sustain its bullish momentum or face another dip. With the market closely watching these key levels, the future of XRP is uncertain, but the potential for explosive growth remains.
Also Read: XRP Price Prediction: This Analyst Suggests $8.76 Target Based on 2017 Fibonacci Patterns
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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