EGRAG CRYPTO (@egragcrypto), a well-known cryptocurrency analyst, has provided a detailed technical analysis of XRP’s short-term trajectory, highlighting key resistance levels and potential breakout points.
Based on Fibonacci retracement levels and trend indicators, the analysis suggests that the digital asset could be approaching a critical period where a strong breakout might occur.
#XRP – Short-Term Analysis:
Closing above $2.24: First sign of strength (21 EMA)
Closing above $2.30: Second sign of strength (Fib 0.382)
Closing above $2.47: Third sign of strength (Fib 0.5) – a strong signal!
Closing above $2.70: Yellow trend line and above… pic.twitter.com/6oW9rZgp4h
— EGRAG CRYPTO (@egragcrypto) April 4, 2025
Critical Resistance Levels
The analysis identifies multiple price levels that could indicate increasing bullish momentum for XRP. The first sign of strength would be a daily close above $2.24, which aligns with the 21-day Exponential Moving Average (EMA). Moving beyond this level would suggest that the cryptocurrency is gaining upward momentum.
A second important level is $2.30, which corresponds to the 0.382 Fibonacci retracement level. This would confirm that buyers are stepping in and defending higher support zones. A close above $2.47 (the 0.5 Fibonacci level) would be a strong confirmation that the price trend is shifting toward a potential breakout.
The Key Breakout Zone
The most critical resistance level in EGRAG CRYPTO’s analysis is $2.70, which is aligned with the 0.618 Fibonacci retracement level. Notably, another prominent analyst recently drew attention to $2.70 as a crucial resistance. If the cryptocurrency can close above this level, it would indicate a break above a key trendline, significantly increasing the likelihood of a sustained rally.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
A breakout above $2.70 would suggest that market sentiment is shifting bullish, potentially paving the way for XRP to target the 1.618 Fibonacci extension level, which is positioned around $5.04. This would represent a substantial increase from the current price of $2.11 and a new all-time high for the digital asset.
Technical Outlook
EGRAG CRYPTO shows that XRP has been trading within a ranging box, consolidating between support and resistance levels. The equilibrium level, identified at $2.00, serves as a psychological support zone where price action has frequently stabilized. If XRP fails to hold above this level, it could risk further downside movement toward $1.63, the next major support.
However, a head-and-shoulder pattern recently formed on the chart suggests it could fall further if a bearish trend begins. The 21 EMA will play a crucial role in determining short-term momentum. As long as XRP stays above this moving average, bullish momentum remains intact.
The most significant bullish confirmation investors should look out for is a daily close above $2.70, as this would indicate a potential breakout to a new all-time high.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on X, Facebook, Telegram, and Google News
