Here Are Potential XRP Support and Target Levels in Current Market Scenario

Egrag Crypto identifies notable resistance and support levels for XRP at its current position, calling attention to various points of interest.

In a recent tweet, EGRAG Crypto, a knowledgeable and tech-driven crypto platform, discussed potential support and target levels for XRP amidst ongoing market volatility. 

EGRAG Crypto’s tweet highlighted the tug-of-war between bears and bulls in the XRP market. It noted that the bears managed to bring down the price to $0.45, creating an opportunity for bullish investors to accumulate more XRP.

#XRP Targets 🎯(Quick Update): #Bears 🐻 managed to bring the price down to 0.45c, yet #Bulls 🐂 are seizing every opportunity to accumulate #XRP.

The Yellow Lines and targets represent potential areas for the #Bears 🎯, but for us, the #Bulls 🐂, they present yet another… pic.twitter.com/Nvfi5mvsSp

— EGRAG CRYPTO (@egragcrypto) June 29, 2023

Potential XRP Support and Resistance Points

Furthermore, the tweet presented four resistance levels and four support levels, representing potential areas of interest for both bears and bulls.

The resistance levels mentioned include $0.5858, $0.5360, $0.5036, and $0.4822. These levels are hurdles for XRP’s upward movement, signifying areas where the price may encounter selling pressure. Breaking above these levels could indicate a shift in sentiment and potentially trigger further bullish momentum.

On the other hand, the support levels mentioned are $0.4581, $0.4268, $0.4204, and $0.3870. These levels represent potential price floors where XRP might find buying interest and support. A bounce from these levels could suggest the presence of buyers aiming to accumulate XRP at relatively lower prices.

Crypto Community View

Crypto enthusiasts chimed in with their perspectives. One observer expressed optimism, stating that if XRP could rebound from the quick dip to $0.45, it could act as a springboard for a move past $0.50. However, the Twitter user acknowledged that it might take some time, possibly at least a week, for XRP to surpass the $0.50 mark.

Another individual speculated about the reason behind the price manipulation, questioning whether it was related to insider knowledge of the outcome of the summary judgment or a calculated risk based on potential outcomes favoring Ripple. 

It is worth mentioning that Ripple and the XRP community are awaiting the final judgment of the multi-year legal battle between Ripple and the U.S. SEC, with experts holding varying views on the price of XRP. 

Nonetheless, a more skeptical commentator attributed the market movements not to bears, bulls, or retail investors but to the predictable algorithmic actions of the Freemasons, offering a conspiracy theory twist to the discussion.