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- XRP surges past $2.24, entering a critical technical phase that could shape its next major move.
- Analyst EGRAG CRYPTO sees a potential $17.50 breakout if XRP clears key resistance near $6.00.
- A 67.5% spike in network activity may signal strong accumulation despite flat short-term price action.
XRP has captured market participant interest because it formed an important technical structure which indicates potential big price fluctuations. XRP is available for purchase at its current price point of $2.24 and possesses a market capitalization value of $131.35 billion while the trading volume reached $5.85 billion within one day.
Analysis of a major technical indicator prevails among trading professionals in the face of a 4.38 percent market rise in the past 24 hours. A Rising Expanding Wedge pattern has appeared on the cryptocurrency which indicates it could lead to significant market movements in any direction.
Key Analyst Highlights Major Price Target and Pivot Levels
The top chart analyst EGRAG CRYPTO indicates XRP maintains support in the area of $1.90. The upcoming major price shift will likely form at $5.00 through $6.00 since this area sets the initial resistance level.
A confirmatory close above $6.00 would create space for a potential breakout according to EGRAG assessment. The analysis predicts an eightfold price rise to $17.50 would occur if XRP crosses past $6.00.
Conversely, if XRP fails to sustain support at $1.90, it could face a steep correction.The price should move back toward $0.65 which previously functioned as strong historical support for the market.
The market is attentively watching four significant price levels. These include $1.90, $3.50, $5.10, and $6.00. The marketplace shows the potential to generate inflection points from these specified price ranges based on current momentum strength.
Rising network activity values indicate that speculators are actively participating in the market.
Spike in Network Activity Signals Renewed Interest
On-chain analyst Ali Martinez reported XRP experienced an increase in user participation in April 19 and April 20. Active XRP network addresses increased by 67.5 percent between April 19 and April 20 as they climbed from 27,352 to 40,366.
The significant ration of user engagement happened even though XRP maintained stable value points throughout that exact period. The disconnect between rising network activity and stable price usually indicates markets are being accumulated by investors in secrecy.
Increased user participation might contribute to price increases during the upcoming months. Growing investor confidence about the asset’s future value seems to be reflected by the current market activity changes.
The current resistance for XRP exists between $2.12 to $2.16. This price zone receives reinforcement from the 100-day Exponential Moving Average since it represents the current market resistance for bullish market momentum.
XRP maintains solid backing which centers around the $2.00 support zone. The price of $2.00 has been a point where buying activity has occurred several times which has acted as a support mechanism against further price drops.
XRP finds itself facing crucial technical moment while staying inside a dominant pattern feature. Market analysts monitor XRP price movements because they believe either an upward or downward momentum will lead to specific price targets between $0.65 and $17.50. Web-based blockchain data indicates rising market participation which positions XRP to experience considerable price volatility within upcoming days.
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