XRP price is trading near a critical resistance level, with analysts closely monitoring the $2.60 mark. Crypto experts suggest that a breakout above this level, followed by a breach of $2.77, could pave the way for a sustained upward move. Resistance levels are currently set at $2.60, $2.85, and $5.85 in the long term, while key support is found at $2.33.
XRP Approaching Crucial Price Zones
Notable analyst Dark Defender has highlighted that XRP is forming higher lows, signaling strong buying pressure. The Relative Strength Index (RSI) is also trending upward, reinforcing the bullish momentum. Should XRP price maintain its position above $2.60, the next target stands at $2.85, with a long-term projection of $5.85. However, a failure to break through could see the price retreating to the $2.33 support level.
Hi all. #XRP reached another decision point where $2.6052 plays a crucial role. Above this level and significantly above $2.77, the 2nd leg of the bullish weekly structure is expected to continue.
— Dark Defender (@DefendDark) February 23, 2025
RSI and price have higher lows, so we can expect a positive break. The key is to… pic.twitter.com/WDdgHPpGD6
Egrag Crypto, another market analyst, has made a bold prediction, suggesting that if XRP closes above $3 on the monthly chart, it could trigger an aggressive rally toward $67. Despite this optimism, he warns of a potential short-term pullback, possibly testing $0.90 before a renewed uptrend.
Cup and Handle Formation Signals Bullish Continuation
Adding to the bullish outlook, analyst Thom Sieloff has identified a cup and handle pattern on XRP’s daily chart. This formation is widely regarded as a strong bullish signal, often leading to substantial price increases. With XRP consolidating between $2.40 and $2.70, the anticipated breakout level falls between $2.68 and $2.70. Historically, such breakouts result in price surges of 20-30%, placing a target around $3.36.
Traditionally, a stock or crypto (like $XRP) forming a cup and handle pattern may increase by 20-30% from the breakout point, based on the depth of the cup projected upward from the resistance level, potentially targeting around $3.36 (a ~25.37% increase from $2.68) in this case.…
— Thom Sieloff (@RealThomSieloff) February 21, 2025
Potential for an Altcoin Rally
A confirmed breakout in XRP price could act as a catalyst for a broader altcoin rally. Institutional interest in digital assets is growing, as seen in recent developments like MicroStrategy’s ETF discussions. However, regulatory concerns remain a key risk factor. The SEC’s oversight continues to impact investor sentiment, but XRP has shown resilience in overcoming past challenges.
Analysts caution that the broader altcoin season could be delayed if Ethereum fails to hold its $2,600 support. A drop below $2,425 might trigger additional declines, dampening market optimism.
Also Read: XRP vs. Bitcoin: Legal Expert Reveals Key Insights & What’s Next for Ripple
For now, XRP’s price action remains the focal point, with traders watching for a decisive move above resistance levels.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
