Ripple (XRP) Price Surge: Is $3.40 Within Reach for Investors?

• XRP is showing upward momentum, with key resistance levels at $2.75 and $3.40, potentially surpassing $3.00 soon.
• Technical analysis suggests an ‘M’ pattern with a bearish target of $2.21, but market makers’ influence may skew chart data.
• XRP’s current bullish trend hinges on breaking $2.75, with a move above $3.40 likely to attract more traders and further price gains.

XRP price movement is on the rise which indicates that there may be a higher possibility of it exceeding $3.00 again and it has two critical resistance levels $2.75 and $3.40. From technical analysis conducted by Egrag Crypto, the cryptocurrency has reached $ 1.77, where it has formed the ‘M’ pattern and this indicates a bearish target of $ 2.21. Nevertheless, the analyst notes that the focus on the specific chart patterns may have the effect of obscuring the picture and such factors as market makers.

Impact of Market Makers

He went further explaining that contracted parties like the market makers who how use leveraged positions to bring about changes can lead to fluctuations and confusion. These factors can sometimes skew the charting data hence the importance that the traders have to be aware of how these players influence the XRP altcoin. This perspective is the extension to the traditional technical analysis approach.

As of press time, token is in an upward trend and is traded at $2.73, which is 12.70% higher over the past day. However, for the bulls to hold the stand and a clear confirmation of the bull’s breakout then coin must remain above the $2.75 mark. Failure to do so could push the price back down and restrict any immediate increase. If XRP will be able to break through this level, it could mean the beginning of a much higher increase in price.

XRP Key Levels for Breakout

Egrag anticipates that the price of token may possibly hit the $3.40 price level, a significant level in their price trend. XRP’s price is likely to rise above this level and, therefore, continues the bullish run as more traders and investors get attracted to the asset. This price level considered one of the most important supports to continue rising due to new phase of buying signals.

With XRP giving bullish indicators to the price and showing a high volatility traders are looking forward to see the prices to break $2.75 and $3.40. A breakout past these levels would not only push the price up further but also increases market activity since more people would be interested in the asset. But, the effect of the market makers and the existing market trends will continue to predict the future price movement of token in the coming weeks.