XRP Above $2.41 Is Bullish, Below $2.15 Is Bearish Anything In Between Is Just Micro Noise: Analyst
Renowned chartist EGRAG has issued an updated analysis of XRP price behavior based on the Bull Market Support Band (BMSB).In the recent disclosure, he emphasized the importance of the current range between $2.15 and $2.41. According to the analyst, the market is in a crucial consolidation phase, where decisive moves above or below these levels could determine XRPs next trajectory.XRP Stuck in "Micro Noise" ZoneThe latest commentary updates his analysis from May 5, when EGRAG noted that XRP was trading around $2.14, right at the edge of what he calls the Bull Market Support Band.The analyst closely monitors this zone, ranging from $2.15 to $2.41, for a breakout or breakdown. He categorizes any price action within this range as just micro noise, suggesting it lacks a meaningful directional signal.Notably, XRP is up over 6% today, trading at $2.30. EGRAG now suggests that a bullish breakout would be confirmed if XRP closes above $2.41 for three consecutive days.Meanwhile, he noted that a close below $2.15 could invalidate short-term bullish sentiment and indicate a deeper correction. According to him, XRP remains in limbo until either level is breached with conviction.Furthermore, EGRAG stated that if XRP fails to hold the $2.15 level, the $1.90 zone could become the next key support. This level may serve as a retest point where buyers could step in to drive a recovery attempt.
Text source: The Crypto Basic
