- XRP faces critical resistance at $2.60, $2.65, and $2.75 for further gains.
- A break below $2.00 could signal a bearish trend and trigger a price decline.
- XRP’s potential for a 665% increase could push its price to around $15.00.
XRP has been making waves in the crypto market recently, with its price climbing steadily. As of press time, XRP trading at $2.39, witnessed a 12.35% increase in the last 24 hours, with the trading volume surpassing $10 billion.
As the asset continues to rise, analysts are closely watching key resistance levels and projecting potential price movements.However, analyst Egrag Crypto highlighted that XRP’s price could face significant challenges soon.
Key Resistance Levels to Watch
Currently, XRP faces resistance at several price points and according to the analyst, the levels are forming just $2 higher than previous ones. Earlier, resistance levels were crucial at $0.60, $0.65, and $0.75, but now the critical resistance ranges are $2.60, $2.65, and $2.75.
These levels are vital, as breaking through them could trigger a rally toward even higher targets. If XRP manages to breach these resistance points, the price could skyrocket, leading to further gains.
The $2.00 Level: A Crucial Turning Point
A significant support level for XRP is $2.00. Should XRP break below this threshold, the price could decline toward lower targets. Hence, traders and investors should monitor this level closely.
A confirmed break below $2.00 could signal a bearish trend, potentially leading to a correction in the short term. However, if XRP holds above this level, it will continue to have room to push toward higher resistance levels.
Long-Term Projections: A Look at Historical Patterns
Looking at the long-term picture, XRP’s current performance has drawn comparisons to its past market cycles. Analyst Bobby A recently pointed out that XRP appears to be growing at a slower rate compared to its 2017 market cycle.
In 2017, after a breakout from its range-high, XRP surged by 629%. However, in 2024, it saw a 331% increase. If XRP follows its 2017 rally pattern, it could experience a substantial price surge in the future.
Based on historical trends, if XRP sees a 665% increase from its current price, the asset would reach around $15.00, placing it near its 4.236 extension. Although a bold prediction, it is worth considering based on XRP’s track record.
