EGRAG Crypto has once again provided a crucial update on XRP’s price structure, highlighting an inverse head and shoulders (I H&S) formation that remains valid until April 20, 2025. According to the analyst, XRP’s measured move suggests a potential price target in the range of $3.70 to $3.90. However, reaching the upper end of this channel will depend on key support and resistance levels holding firm.
#XRP I H&S (UPDATE) – Key Levels:
Current Measured Move:
We maintain our target range of $3.70-$3.90. The likelihood of reaching the upper end of the channel is significant, provided certain conditions are met.
We should not close a daily candle below… https://t.co/p7Mqk0hrOp pic.twitter.com/KCzQcRotkM— EGRAG CRYPTO (@egragcrypto) March 29, 2025
Key Price Levels and Market Sentiment
For XRP to sustain its bullish trajectory, certain price levels must be closely monitored. The most critical threshold is the $2 mark. EGRAG Crypto warns that a daily close below this level could trigger a fair value gap, leading to a temporary wick. However, the expectation is that XRP would rebound quickly to maintain its bullish momentum.
Another major level to watch is $2.65, which must be flipped into strong support for XRP to sustain upward pressure. If this milestone is achieved, the next target would be breaking through the mid-channel resistance at $3.00. A confirmed close above this level would indicate increasing strength in XRP’s price action, setting the stage for a rally toward the critical $3.20–$3.40 range.
The Path to a Potential Breakout
Should XRP successfully hold above the $3.20–$3.40 range, bullish sentiment could accelerate, pushing the asset toward an upper target of $4.60. However, EGRAG Crypto cautions that reaching this level and subsequently showing signs of weakness could indicate a distribution phase. This would align with a well-known market structure, the distribution schematic #1, which typically precedes a corrective move.
The timeline for this setup remains in play until April 20, meaning traders should pay close attention to XRP’s price behavior in the coming weeks. If the current inverse head and shoulders formation plays out as expected, XRP could be on the brink of a significant breakout.
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Market Context and Investor Implications
The broader cryptocurrency market dynamics will also play a role in determining whether XRP can achieve these ambitious price targets. Factors such as Bitcoin’s performance, regulatory developments, and institutional interest in digital assets will all contribute to XRP’s ability to sustain upward momentum.
For investors and traders, the outlined price levels offer a roadmap for potential entry and exit points. A close above $3.00 would reinforce bullish confidence, while failure to hold $2.00 could raise cautionary signals. As EGRAG Crypto continues to provide updates, market participants should remain vigilant and adjust their strategies accordingly.
With XRP’s chart structure aligning with historical bullish patterns, the coming weeks could prove pivotal in defining the asset’s mid-term trajectory.
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.
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