Top Analyst Says XRP $2.75 Level is Now Similar To $0.75 Resistance
As the XRP price struggle continues, analyst Egrag has highlighted a symmetrical triangle pattern as the key to unlocking XRP's next price move.According to Egrag, XRPs path to $3.75 depends on whether the token can hold the upper boundary of this crucial formation. In his analysis, Egrag noted that the $2.75 level, the top edge of the formation, is now comparable to XRPs historical $0.75 resistance.Notably, as reported earlier, XRP faced rejection at $0.75 at least three times in 2024 before ultimately surpassing it. In the current scenario, Egrag highlighted XRPs strong recapture of $2.75 as the springboard for further ascent.If the top edge holds, I can confidently say that $3.75 and potentially higher are on the table, Egrag stated.Resistance to XRP Road to $3.75At present, XRP is trading at $2.43, down by 4.32% today. Breaking above $2.75 requires a 13.2% price rally. Over the weekend, XRP approached this crucial target, reaching a new yearly high of $2.58 before the bears took control.Meanwhile, in the event of a successful breakout, XRP could surge beyond $3.75, nearing its all-time high, with market sentiment further fueling the rally.However, the analyst noted that downside risks remain for XRP. Specifically, a failure to hold key support levels could push XRP down to bearish targets of $2.07. Notably, this level coincides with the bottom of the currently forming symmetrical triangle on XRPs price pattern. Additionally, the analyst mentioned the possibility of further declines to as low as $1.63.
Text source: The Crypto Basic
