XRP Price Analysis: Ripple Analyst Shares Key Levels and Price Targets to Watch

XRP Price Analysis: Top Analyst Highlights Key Levels and Targets

EGRAG CRYPTO, a prominent analyst, recently shared an in-depth analysis of XRP's monthly price chart, identifying crucial price levels and potential targets for the asset. Channel B, as he refers to it, has been a significant obstacle for XRP, preventing sustained price movement beyond specific levels over the years.

EGRAG CRYPTO's analysis outlined several critical levels for traders and investors to monitor as the price consolidates within this established channel:

Resistance Levels:

• $0.6450
• $0.85
• $1.10

Support Levels:

• $0.48
• $0.38
• $0.28

Fibonacci Cycle Targets:

• $7.5 (Fib 1.236)
• $13 (Fib 1.414)
• $27 (Fib 1.618)

According to EGRAG CRYPTO, the pressure on XRP is intensifying, suggesting a potential breakout moment. A monthly close above Channel B would mark a pivotal shift, triggering a bullish rally toward higher targets. The midpoint of Channel B is $0.85, while the top end at $1.10 serves as the final major resistance level.

Resistance and Support Levels to Watch

$0.6450 is the initial hurdle for XRP to overcome on the resistance side. A move above this level could indicate early bullish momentum. The next crucial resistance level is $0.85, followed by $1.10. A monthly close above $1.10 could pave the way for a substantial upward movement.

On the support side, $0.48 is a key support level that has been tested multiple times. Below this, $0.38 and $0.28 serve as additional support floors. A drop to these levels could signal a deeper retracement.

Fibonacci Cycle Targets: Long-Term Outlook

Beyond resistance and support levels, EGRAG CRYPTO outlined long-term Fibonacci extension targets for XRP. These include $7.5, $13, and $27, based on key Fibonacci retracement levels. While ambitious, these targets are grounded in historical price patterns and technical analysis.

XRP's Path Forward

As XRP's price remains consolidated within Channel B, Egrag advises monitoring for a potential breakout. The midpoint of $0.85 and the higher resistance of $1.10 define the future course of the asset. Maintaining support at $0.48, $0.38, and $0.28 will help preserve the upward momentum.

With XRP's price behavior in the upcoming months under close observation, a monthly close above Channel B would mark a significant milestone for the first time in years.