After years of trade below his previous highest all time since 2018, XRP has finally broken A ceiling of USD 3.40, which reached a up-to-date 3,65 USD record on Friday, July 18 Rally completed This caused the cryptocurrency to raise by 68% compared to July.
However, XRP has returned to the zone with the zone from 3.40 to 3.50 USD Possibility of forceful withdrawal. Interestingly, the outstanding XRP EGRAG Crypto analyst clas that the processing of up to USD 3.12 may be necessary before further price raise.
The analyst indicates $ 3.12 as a re -zone
IN up-to-date post on Social media platform X, a respected cryptographic analyst at EGRAG Crypto warned that XRP may result from a re -test of 3.12 USD. The analyst appealed to Fibonacci 0.888, which is currently USD 3,1279 as a logical support zone if XRP had a return from the current price zone. According to its technical chart, XRP is currently consolidating in a decreasing system on a 4-hour candlestick time chart because it has reached USD 3.65. However, it is still trading above USD 3.40, which is a stubborn sign.
“It will remain above FIB 1.0 (USD 3.40) is a super stubborn sign,” he noted – “But we still have to keep an eye on a decreasing channel.” With this in mind, XRP may interrupt below $ 3.40, and it can be re -takes at the FIB 0.888 (USD 3.12).
The level of 3.12 USD stands out not only because of the symmetry of Fibonacci, but also because it coincides with the order block, which was created as XRP, presses to up-to-date high. If XRP returns to test this level and persists, it can confirm the strength in the current rally structure and build a foundation for further climbing towards the extension of 1.21 Fibonacci, which is located at USD 4.16.
Photo of the chart from X: Egrag Crypto
Stubborn momentum still intact
Although some investors may perceive a decrease to USD 3.12 as a failure, EGRAG believes that the result may be stubborn in a wider picture. “If we see here again, he can lead us to another start,” he explained. However, the completely omission of the re -test would be even more silver-tongued as a clear sign that the bulls They are stronger than expected.
Pure suspension above USD 3.40 in the coming days indicate stubborn dominationEspecially if XRP grows out of the yellow tagging channel shown in the Egrag chart. On the other hand, a controlled re -revision of the USD 3.12 USD re -revision can provide a better entry point for up-to-date investors and prepare XRP for the next leg for the target price of USD 4.16 emphasized in the analysis.
At the time of writing, XRP trades $ 3.49.
A distinguished picture from Unsplash, TradingView chart
