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- XRP is nearing a crucial breakout point for major price shift.
- Key support at $2.85 could prevent deeper correction in XRP.
- Breaking $3.20 resistance could trigger explosive price movement for XRP.
XRP stands at a very important junction, and its price remains consolidating in a symmetrical triangle pattern. According to the current analysis by Egrag Crypto, the following major move in the price of XRP will rely on its capacity to maintain vital support and overcome resistance. This pivotal moment could lead to an explosive move in either direction. XRP has a support zone of $2.85 that is central to the downside of this cryptocurrency.
A retest of the price of less than $3.00 will be very likely. Any failure to sustain above $2.85 would lead to further losses, which would indicate a change in the market’s mood. The support area will be instrumental in deciding whether XRP will be able to keep its upward trend or undergo a more significant correction.
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Breakout Above $3.20 Could Trigger Massive Upside
On the other hand, XRP can easily find a significant upside if it overcomes the resistance level of the $3.20 mark. Any breakout beyond this point may send XRP to the next resistance at $3.30 to trigger a significant price rally. Egrag Crypto emphasizes that it will be necessary to remain above the $3.00 level on larger periods, like the daily and 3-day charts, to keep the bullish trend healthy. Any fall below that of $3.00 may create a turning point, and XRP may go down.
The symmetrical triangle formation indicates that XRP is about to break out of a critical area. A price movement above $3.20 could unleash a powerful rally, while failure to hold support below $2.85 may trigger a sharp decline. Market observers are looking forward to XRP’s next move.
As XRP hovers between these critical levels, the next few days will likely determine its trajectory. Will the asset break to new highs, or will it take a severe plunge? Its success will depend on how it can hold on to the support level of 2.85 and surpass 3.20.
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