Will Ripple (XRP) Reach New Record Highs? Check out the following analysis!

Jakarta, Pintu News – Ripple XRP0.24%->Current XRP PriceRp 37.6600.24%Market CapRp 2.308 TriliunTrading VolumeRp 262,59 TriliunCirculating SupplyRp 57,18 Miliar has struggled to build momentum, with the price trend trending downward since early March. Despite an increase in the last five days after bottoming out at $1.93 on March 11, Ripple (XRP) has yet to fully recover the losses incurred in the first week of the month.

Critical Analysis at the $2.65 Level

Egrag Crypto, an analyst who has long been bullish on Ripple (XRP), recently revealed via social media platform X about a critical price level that could determine the next significant move of this cryptocurrency. Egrag marked $2.65 as the critical threshold that Ripple (XRP) must reclaim in order to sustain meaningful bullish momentum.

However, the analyst expressed concerns about Ripple’s (XRP) repeated tests of the lower boundary, which refers to the recent low of $1.93. According to Egrag, repeated tests at these support levels are a double-edged sword. While repeated touches on resistance can trigger a breakout, repeated tests on support weaken its integrity, increasing the chances of a breakdown.

Egrag likens this pattern to knocking on a door that will eventually open or break. He highlighted six instances where Ripple (XRP) tested this zone since December 2024 on a 12-hour candlestick chart, warning that prolonged weakness could pave the way for further declines.

Also Read: Ethereum Prediction: Recovery or Bearish Signal? Here’s the Mid-March 2025 Technical Analysis!

Importance of Closing Above $3.00

To break out of this cycle and move into bullish territory, Egrag emphasizes the importance of a strong close above $3.00, not just a brief move past it. This level has served as an upper resistance trend line for the past two weeks and has been a barrier to a sustained uptrend.

Failure to break and hold above $3.00 could lead to a sustained correction in the short-term and trap Ripple (XRP) in its current range. However, Egrag believes that the chances of Ripple (XRP) reaching $3.00, given the current price action, are slim without securing a close above $2.65.

Ripple (XRP) Outlook After $3

March has been an extremely bearish month for Ripple (XRP), with sellers maintaining control as it fails to reclaim lost territory. However, if the Ripple (XRP) bulls manage to close above $3 before the end of the month, it will open the door for a continuation of the price rally. With this, Egrag sets an initial target of $4.80, putting Ripple (XRP) at a new record high.

Conclusion

Taking into account the analysis and predictions from Egrag Crypto, investors and market watchers should pay close attention to the price movement of Ripple (XRP) at the predetermined critical levels. Success or failure in reaching and maintaining those levels will largely determine the future direction of Ripple (XRP) in the cryptocurrency market.

Also Read: XRP Predictions and Impact on Crypto Market: 8% Drop After Positive Trend March 2025

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. XRP Price Must Close Above This Level for Bullish Breakout, Analyst Warns. Accessed on March 17, 2025
• Featured Image: Coinpedia