XRP Price Analysis: Key Levels to Watch for Bullish Growth

• XRP’s price target is between $3.70 and $3.90, contingent on favorable market conditions.
• The $2 support level is crucial; failure to hold may trigger a temporary downtrend or wick.
• XRP needs to break $2.65 and $3.00 for continued bullish movement, with $3.20-$3.40 as key resistance levels.

Egrag Crypto offered detailed insights on XRP’s trends and important levels to consider as a trader. He stated a target price range of $3.70 to $3.90, leaving it a little more open to interpretation that Ripple could get way up near this price if specific conditions are met in the market.

The psychological level of $2 has been pointed out by Egrag as the level of support. If at the end of the day it is unable to close the daily candle above $$2 it may form a fair value gap which is most likely to be followed by a doji wick. Nonetheless, he believes that the price will mean-reverse if this happens and resume its uptrend if the market does not drop down this key level. This suggests that it remains possible for token’s price to post an upward movement providing it manages to maintain a price above $2.

XRP’s Key Support and Patterns

The active pattern which is regarded to foretell changes in trends is the head-and-shoulders (H&S) formation. The current H&S pattern holds until April 20, 2025, and the further development of it may greatly influence the XRP price. The continuation of the forming of this pattern will make the trader aware if the current trend of upward movement is sustainable or if there will likely be a reversal.

For the further continuation of the ascending price movement, Egrag said that $2.65 is a critical level of importance to consider. This is the price point that needs to be achieved if XRP will carry on fueling the mobile app and develop further. In addition to this, he pointed out a mid-channel resistance around $3.00 as a significant landmark on the token’s price. An attempt to move above the $3.00 level would likely be positive for XRP, suggesting that the crypto has a chance to hit the upper bound perhaps.

Key Levels for XRP’s Price Movement

Another important price range is the critical value level of $3.20- $3.40 in the Ripple market. A break above this level would provide another confirmation of the bulls’ control of the market. But as per the analyst if XRP breaks out at $4.60 and if it starts to decline then it is possible that it may enter the distribution phase. This would be a situation in which the trader needed to be wary of the fact that the asset might be at its highest price range. As of press time, XRP is trading at $2.08, showing a 5.89% decline over the past day.

Source: TradingView

In summary, the prospects of XRP is slightly bullish as it continues to be shaped by different levels of support and resistance. Traders are encouraged to pay particular attention to these indicators since they defined the future direction of moving upwards or encountering some obstacles for XRP.