XRP Positioned for Climb, Analyst Highlights Key Levels

• EGRAG CRYPTO predicts potential XRP surge, advises cautious trading.
• XRP shows strong support at $0.50, resistance at $0.83-$0.85.
• XRP’s price fluctuates, with recent drop below key $0.6235 support level.

The crypto analyst and trader, EGRAG CRYPTO, pointed out the significant support and resistance points he monitors on the charts for Ripple’s currency. He expects a substantial surge in value for the payment token and advises traders to be cautious, suggesting they carefully manage their investments in the coming weeks.

The post indicates that XRP demonstrates solid support within the Gaussian Channel and the Symmetrical Triangle formation. The cryptocurrency has established a “sturdy support base” at the $0.50 mark and possesses consistent support within the $0.54 to $0.55 range. Additionally, the analyst pointed out that the support level for XRP is at $0.60.

Despite XRP having formed a strong support base at its current price range, EGRAG CRYPTO has cautioned that for XRP to initiate an upward breakout, it must first surpass the resistance levels between $0.83 and $0.85. EGRAG CRYPTO further pointed out that these resistance levels correspond to the upper boundary of a symmetrical triangle pattern that has appeared on the charts of the remittance token.

As of the latest reports, the digital currency XRP was listed for $0.6219 on the crypto market monitoring platform CoinMarketCap. This price point reflects a 1.86% increase in the altcoin’s value during the last 24-hour trading period. However, when examining the performance over 7 days, XRP’s price has experienced a decline exceeding 5%.

Over the recent days, XRP has fallen beneath the crucial support level of $0.6235. Following this decline, the digital currency has been striving to regain a stance above this important threshold at the time of reporting. If XRP manages to end the current day’s trading with its daily candlestick higher than $0.6235, it could establish the necessary base to break free from its downtrend.

Consequently, XRP may ascend to a peak of $0.68 in the ensuing days. Conversely, should XRP conclude today’s trading below $0.6235, it might render the remittance token vulnerable to a potential decline to $0.5730 in the subsequent days.