Chartist Foresees XRP New All-time High If It Surpasses This Level

Crypto analyst EGRAG CRYPTO (@egragcrypto) recently updated his XRP price analysis, highlighting critical support and resistance levels.

His 12-hour chart reveals that XRP successfully closed above $2.60, a bullish signal that suggests buyers are defending key price zones. However, resistance at $2.85 remains the hurdle, preventing further upward movement.

The most crucial support level identified is $2.30. EGRAG CRYPTO emphasized its significance, stating, “Our key focus now is not to drop below $2.30, as that could trigger a free fall to lower targets.” A close below this level could lead to a decline toward $1.90 and $1.67, which are identified as major downside targets.

The analyst recently pointed out that XRP bulls are struggling to push the price above the apex of an ascending triangle. If they succeed, XRP will close above $2.75, placing it in the right position for a massive rally.

Potential Breakout and Key Price Targets

The updated chart suggests that XRP may consolidate within the $2.30–$2.85 range before making a decisive move. The 21 EMA (Exponential Moving Average) is trending closely with the price, indicating that the market is still in a neutral phase, with neither buyers nor sellers having complete control.

EGRAG CRYPTO’s latest chart builds upon his February 12 analysis, which focused on the 8-hour timeframe. In that post, he categorized key price levels with a close below $2.30 serving as a bearish signal. However, a closing above $2.30 is bullish, and a close as high as $2.85 is super bullish.

The chart also suggests a confirmed close above $3.11 would be a strong indicator of a potential rally to all-time highs. Past analyses by EGRAG CRYPTO have pointed to $3.40 as a short-term target, and the subsequent rise to $4 would mark a new all-time high for the digital asset.

The updated 12-hour analysis reinforces these same levels but adds greater confirmation that price action is currently in a holding phase, awaiting the next major move.

External Factors that Could Impact XRP

XRP’s price movement is not just influenced by technical patterns but also by broader market sentiment and regulatory developments. The U.S. Securities and Exchange Commission (SEC) recently dismissed its lawsuit against Coinbase, and experts believe the Ripple lawsuit is the next to go.

The end of the lawsuit could give the digital asset a significant boost, potentially sending it beyond these targets outlined by EGARAG CRYPTO. While traders await the end of the lawsuit, the $2.85 and $3.11 targets will be closely watched, as XRP is trading at $2.42.

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