XRP Must Close Above These Price Levels To Invalidate Bearish Forecast – Analyst
XRP prices increased by nearly 3% recently, continuing a market rebound but facing potential downside risks. Crypto expert Egrag Crypto indicates that XRP must close above $2.41-$2.45 to negate a bearish pattern and confirm a bullish trend. Resistance at this level aligns with a descending trend line from Q1 2025. If XRP fails to break above this range, it could retest around $1.2-$1.3, representing a possible 46.05% decline, though this would be seen as an accumulation opportunity due to a generally bullish long-term outlook. Additionally, reclaiming the $2.96 price zone is necessary for a sustainable uptrend. Currently, XRP trades at $2.41, with significant weekly and monthly gains of 10.17% and 23.37%, respectively. Market sentiment remains bullish, bolstered by a recent SEC settlement involving Ripple, which returned $75 million held in escrow. XRP has a market cap of $241.95 billion, making it the fourth-largest cryptocurrency.
