XRP Holds Support at $2.31 in Double Bottom Formation Eyes on Higher Breakout
According to EGRAG CRYPTO, XRP continues to bounce off the red descending trend line, maintaining a key level of support and signaling market strength. The current price action is oscillating within a narrow range, referred to as micro noise, between Fibonacci level 0.888 specifically, between $2.30 and $2.62.
Whats Next for XRP?
The chart outlines two potential scenarios:
Bullish case: A successful breakout above the trend line could send XRP to $2.30, then to $3.10, with the ultimate upside target around $3.3967.
Bearish case: Failure to hold current levels could lead to a retest of lower Fibonacci zones, including $1.6126 (0.786) and $1.2038 (0.702) the latter marked humorously with a fishing hook and fish emoji on the chart, suggesting a possible Liquidity
" >liquidity grab before reversal.The ability to quickly convert a digital currency or token into another asset or cash without affecting its price.
EGRAG emphasizes staying steady and encourages the #XRPFamily to remain confident through current price volatility.
STAY STEADY AND STRONG. Together W e Rise!, he wrote.
With key support holding and strong technical patterns forming, XRP could be approaching a critical breakout point one that traders will be watching closely in the days ahead.
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