XRP has been experiencing significant price fluctuations, drawing the attention of analysts and traders. EGRAG CRYPTO (@egragcrypto), a well-known analyst, recently updated XRP’s performance using a 12-hour time frame. The analysis highlights crucial technical levels that could determine the cryptocurrency’s short-term direction.
#XRR – Quick Update – 12-Hour Time Frame:
🔔 Current Insights on #XRP :
1⃣Key Level to Watch: #XRP needs to close above the 21 EMA at $2.67.
2⃣Critical Resistance:
A close above $2.81 (0.702 level) is essential for bullish momentum.Catch up later for another update, and… pic.twitter.com/MYIrOD1QjG
— EGRAG CRYPTO (@egragcrypto) February 7, 2025
XRP Crucial Technical Levels
According to the latest analysis, XRP must close above the 21 Exponential Moving Average (EMA) at $2.67 to regain bullish momentum. The 21 EMA is widely used by traders to assess short-term trends, and a sustained close above this level could indicate a potential shift toward an uptrend.
Notably, this target is close to the $2.7 level recently highlighted as a crucial jump-off point by an analyst. On the other hand, failure to break above $2.67 may suggest continued bearish pressure.
Beyond the 21 EMA, the next critical resistance level is at $2.81, which corresponds to the 0.702 Fibonacci retracement level. This is particularly significant because Fibonacci retracement levels help traders identify potential price reversal zones.
Resistance and Support Zones
XRP is struggling to recover from the decline caused by recent tariff threats made by the Trump administration, and the immediate challenge for the asset is breaking through the 21 EMA at $2.67. If the price closes above this level, it would signal renewed strength in the market.
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However, the 0.702 Fibonacci retracement level at $2.81 presents an even greater obstacle. A decisive move past this level would indicate a potential uptrend continuation.
On the downside, XRP has a key support level at $2.45, corresponding to the 50% Fibonacci retracement. If the price fails to maintain its position above this level, further declines could push it toward a lower support zone near $2.07. This would indicate a weakening trend and a possible continuation of the recent correction.
Potential Price Scenarios
If XRP successfully surpasses both $2.67 and $2.81, bullish momentum could intensify, potentially leading to a test of higher levels at $2.96 (Fib. 0.786), and $3.16 (Fib. 0.888). However, if the price struggles to break through these resistance points, it could lead to a rejection and a potential decline toward lower support zones.
The broader market sentiment, developments around XRP, and overall cryptocurrency trends will also influence the asset’s price action. If market conditions remain favorable and buying pressure increases, XRP could see the sustained uptrend many analysts are predicting.
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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