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XRP Bulls Push for Breakout: Analyst Sees $3.40 as Critical Level

Jonathan Carls by Jonathan Carls
February 14, 2025
in Binance Feed, Market
Reading Time: 4 mins read
XRP Bulls Push for Breakout: Analyst Sees $3.40 as Critical Level
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  • XRP must close above $2.75 to confirm bullish momentum toward $2.94.
  • SEC’s review of XRP ETF signals a shift in regulatory sentiment.
  • Market makers manipulate liquidity, impacting XRP’s short-term price action.

XRP has been gaining significant momentum, with its price seeing notable gains over the past week. As analysts monitor critical resistance levels, the focus remains on whether XRP can secure a strong close above $2.75. 

Additionally, a shift in regulatory sentiment is emerging, as the U.S. Securities and Exchange Commission (SEC) has acknowledged Grayscale’s application for spot XRP and Dogecoin exchange-traded funds (ETFs). This development marks a critical step toward mainstream adoption of XRP.

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XRP’s Technical Outlook and Key Levels

According to EGRAG CRYPTO, XRP’s 4-hour chart presents crucial resistance points. A confirmed close above $2.75 could push the price toward the next resistance at $2.94. Each successful close strengthens the likelihood of reaching higher price levels. Significantly, the analyst emphasizes that price action below $3.40 remains market noise, indicating that true momentum lies beyond this threshold.

#XRP – Quick Update: 4-Hour Time Frame Analysis

Let's dive into the latest on #XRP! 📈 The resistance levels have been clearly outlined in previous analyses.

What we need to see now is a strong close above $2.75 (marked in green as "This High"). If we can achieve this, we'll be… pic.twitter.com/e2yceX6V8B

— EGRAG CRYPTO (@egragcrypto) February 14, 2025

Moreover, a recent one-hour time frame analysis reveals an overlooked ‘M’ pattern. While many traders focused on price reaching $1.77, the pattern suggested a correction toward $2.21. 

This scenario highlights how market makers manipulate liquidity, often leading to unexpected price movements. Now, the formation of an ascending triangle suggests bullish momentum. A close above $2.75 would confirm this pattern, positioning XRP for a potential breakout.

#XRP – 1 Hour Time Frame (Did Anyone Notice⁉️)

I apologize for missing the 'M' Pattern that many in the #XRP TA analyst overlooked. If you caught it, let me know! 💬

🤔 Chart Bias
This shows how Chart Bias can lead to missed patterns. The price reached $1.77, but the 'M'… pic.twitter.com/uril0EFgWy

— EGRAG CRYPTO (@egragcrypto) February 14, 2025

Market Performance and Growing Optimism

XRP’s recent surge underscores increasing investor confidence. The cryptocurrency is trading at $2.76, marking a 13.14% increase in 24 hours and a 15.74% rise over the past week. 

With a circulating supply of 58 billion, its market capitalization stands at approximately $159.7 billion. This rally aligns with heightened market activity, as daily trading volume exceeds $6.49 billion.

Regulatory Shifts and ETF Prospects

A major regulatory shift is unfolding as the SEC has officially accepted Grayscale’s application for a spot XRP and Dogecoin ETF. This acknowledgment initiates a formal review process, signaling a potential change in regulatory approach. While approval remains uncertain, the move suggests that the agency is willing to assess the market feasibility of such ETFs.

Ripple CEO Brad Garlinghouse has long advocated for an XRP ETF, predicting its inevitability. His stance has gained credibility as regulatory attitudes appear to shift. 

Previously, the SEC dismissed similar proposals, discouraging firms from pursuing cryptocurrency ETFs. However, recent developments suggest a more open stance, possibly influenced by new leadership at the SEC.

Tags: Price AnalysisRipple (XRP) News

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