- Egrag Crypto emphasizes $2 as a critical weekly support for XRP, with $2.44 needed for bullish confirmation into 2025.
- Short-term analysis shows consolidation near $2.50, with Bollinger Band compression signaling potential breakout momentum.
- XRP’s monthly gain stands at 122.79%, but reduced volume and RSI trends reflect indecision around current resistance levels.
According to analysts Egrag Crypto and Javon XRP has experienced different price swings over different timeframes. Egrag notes the importance of holding $2 on the weekly basis to maintain structural integrity.
Meanwhile, Javon points to bullish divergences and tightening price action on the four timeframe, with $2.50 emerging as a critical resistance level. Both analysts emphasize the importance of current patterns in determining XRP’s next major move.
Key Monthly and Weekly Levels
Egrag Crypto’s monthly analysis divides XRP’s price movement into three distinct phases. The “Psychological Zone” outlines initial low-price levels, transitioning into the “Preparation Face” marked by consolidation.
The “Face Melting Phase” shows anticipated upward price movements. Current resistance levels include $1.00, $1.20, and $3.60, while key supports stand at $0.4711 and $0.3805. On the weekly timeframe, the focus is on holding the $2 mark.
Last week’s candle, with long wicks, showed strong buying momentum. However, the current week opened below the previous close, hinting at potential short-term bearishness. Egrag highlighted $2.44 as a critical level for bullish confirmation into early 2025.
Shorter Timeframes Indicate Consolidation
On the three-day chart, Egrag noted a pull between bulls and bears in the $2.53–$2.17 range. A decisive breakout with a full-body candle on this timeframe could signal XRP’s next move. Daily breaks suggest that while XRP’s price remains range-bound, patterns indicate targets between $7.50 and $8.10, contingent on Bitcoin’s price reaching $120K–$130K.
For the 8-hour chart, indicators such as the ADX reflect bullish potential, with the current structure indicating the completion of an ABC correction. Meanwhile, the 2-hour timeframe shows Bollinger Band compression, often a precursor to imminent price movement.
Volume and RSI Trends Indicate Price Indecision
Javon observed on the 4-hour timeframe that XRP’s price peaked at $2.45 before entering a consolidation phase. While support at $2.00 remains critical, resistance at $2.50 could determine whether XRP resumes its upward movement.
Reduced trading volume during consolidation suggests temporary market hesitation. The RSI’s movement highlights weakening momentum, aligning with the current pause in bullish activity. At press time, XRP was trading at $2.36, a 2.08% daily decrease but a major 122.79% monthly gain.