The rebound comes despite a 7.96% drop over the past week, with the asset now holding a market cap of $177 billion and 24-hour trading volume exceeding $5.5 billion.
Crypto market commentator EGRAG CRYPTO noted that the latest market wick on the two-month chart has caused unnecessary panic among traders. According to him, the movement is minor in the broader context and may actually be setting up the most significant candle body formation in XRP’s history. He suggests that those who remain steady during this period could be part of a major upward shift in the asset’s trajectory.
EGRAG’s chart analysis highlights key trendlines, including the “Line of Hestia” and the “Troposphere” range, showing XRP holding strong above crucial support levels. His outlook implies that the current consolidation could be laying the groundwork for a significant rally, potentially targeting much higher price zones.
If bullish momentum persists, XRP could break above the $3 mark and test higher resistance levels, with some analysts eyeing moves toward the $5–$7 range in the long term. However, failure to hold recent gains might see the token retesting support near $2.70 or lower.
With sentiment in the #XRPFamily community staying optimistic, the coming months could prove pivotal in determining whether XRP can transform this technical setup into a historic breakout.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
The post XRP Price: Analyst Predicts Historic Breakout After Sharp Recovery appeared first on Coindoo.
