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- XRP is testing resistance at $3.00; a breakout above may signal an uptrend with targets at $4.30 and $6.00.
- Long-term XRP price potential could reach $33.00 to $60.00, supported by a new ARC formation and Fibonacci channel projections.
- Failure to break $3.00 may lead to a pullback, with risks of a deeper decline if XRP falls below $1.90, possibly signaling a bearish shift.
XRP is showing a bullish strength, though it is trapped within the upper Bollinger Band at $2.75 to $3.00. The $3.00 level is quite important because it has been an all-time high point in the price previously. An upside break above this level may be shown as a monthly close above this zone, which will hint at an uptrend. As of press time, XRP is trading at $2.58, showing a 3.02% decline over the past day.
Source: TradingView
XRP Long-Term Price Surge
In a recent X post, Egrag highlighted that in such a case, XRP may surge to reach the next level of resistance at $3.00. Potential key areas of halts are identified in the area of $4.30 and $6.00, which is ideal for the cryptocurrency. An actual breakout can extend beyond these levels to create more momentum and rider a bullish sentiment.
On a long-term basis, more buying pressure is expected for XRP as a new ARC formation suggests another wave of price increase. According to the current trading price, XRP can rise to $33.00 to $ 60.00 in case the price trends will remain high. These levels are confirmed by the Fibonacci channel, indicating that the XRP has not yet reached the peak of the upward movement.
However it is important for one to consider the following risks in the market. It may experience a reversal if the price of XRP is not able to go beyond $3.00. Failure to reject this resistance could bring a reversal to the support area of $1.90 to the $2.00 range. To be bearish from multi-month, price needs to break $1.90 and when price is below that level scentiment is likely to turn bear and result in more downside risks.
XRP’s Potential Downside Risks
On the downside, XRP might be expected to fall to a range of $0.90 and $1.00 at its minimum. This would indeed indicate a change in the market psychology, supposedly a black swan. Such a collapse would be difficult for holders, especially those who invested long-term in shares of companies. Such a scenario could be brought about by emerging market factors such as an audit, or other market issues, that are generalized.
Nevertheless, all the possibilities provided the bullish outlook remains in place. If bulls are able to maintain a price above $3.00 for a longer period, it is safe to conclude that the path towards further growth is among the most probable outcomes. Such a breakout proved to be sustainable, can help XRP to have strong support above this level and gain further appreciation in the longer term. Volume and momentum will be the two important parameters that investors will have to focus on in the next few weeks.
