The XRP price has been in the last seven days Constrained to the commercial compartment When investors want to regain the losses they suffered at the beginning of February. This range is a consequence of the current indecision of the XRP price. However, the popular cryptographic analyst at Egrag Crypto presented a detailed division of the XRP price trajectory. In particular, the analyst emphasized the key levels of support and resistance that could be determined by XRP Movement at every stage.

Lower XRP goals indicate key support levels

Participating his observations about X, Egrag Crypto pointed out that the last price actions suggest that market manipulation was played, eliminating traders drowned before reflection. Its observation After a pointed crisis In the first three days of February, when the price of XRP dropped below USD 3 and found a fleeting bottom of USD 2.12. In addition, this decline included a wick that caused a wave of liquidation among lewed traders.

However, the analyst maintains that as long as XRP remains above a certain blue channel in the XRP chart below, the perspective remains positive because of the price trajectory. With this in mind, Egrag Crypto provided a set of lower goals that serve as key support levels, emphasizing that closing below any of them can signal weakness.

Although price wires may occur, the analyst suggests that the integrity of the stubborn structure remains intact until the price of XRP closes below these levels. These support levels are USD 2.21, USD 2.80 USD, USD 1.74 and USD 1.60. The break and closing below the lowest support at USD 1.60 may indicate a final change in moods and cause a deeper price correction.

The upper goals signal a potential stubborn breakthrough

On the stubborn sideEgrag Crypto presented higher price goals that can confirm a forceful breakthrough if XRP successfully closes over them. The analyst identified these goals as USD 2.62, USD 2.75, USD 2.94, USD 3.22 and USD 3.40. In particular, XRP has already traded above these price goals in this cycle, and even closed above the first four goals in daytime.

Egrag Crypto noticed that the higher the price closes over these goals, the more stubborn perspectives become, especially in longer time frames. Breaking and closing above USD 3.40 would mean cryptocurrency for the first time has reached a novel level of all time For over seven years. . In addition, the price of analytics in the range from 2 to 3.40 USD may simply be market noise. Therefore, indefinite closures above the levels of resistance are all the necessary confirmation.

At the time of writing, XRP trades $ 2.55, which reflects an enhance of 4.6% in the last 24 hours. This movement ups the XRP to test the first target of $ 2.62.

A distinguished picture from Pexels, chart from tradingview.com