Top Analyst Says XRP $2.75 Level is Now Similar To $0.75 Resistance

As the XRP price struggle continues, analyst Egrag has highlighted a symmetrical triangle pattern as the key to unlocking XRP’s next price move.

According to Egrag, XRP’s path to $3.75 depends on whether the token can hold the upper boundary of this crucial formation. In his analysis, Egrag noted that the $2.75 level, the top edge of the formation, is now comparable to XRP’s historical $0.75 resistance.

Notably, as reported earlier, XRP faced rejection at $0.75 at least three times in 2024 before ultimately surpassing it. In the current scenario, Egrag highlighted XRP’s strong recapture of $2.75 as the springboard for further ascent.

“If the top edge holds, I can confidently say that $3.75 and potentially higher are on the table,” Egrag stated.

Resistance to XRP Road to $3.75

At present, XRP is trading at $2.43, down by 4.32% today. Breaking above $2.75 requires a 13.2% price rally. Over the weekend, XRP approached this crucial target, reaching a new yearly high of $2.58 before the bears took control.

Meanwhile, in the event of a successful breakout, XRP could surge beyond $3.75, nearing its all-time high, with market sentiment further fueling the rally.

However, the analyst noted that downside risks remain for XRP. Specifically, a failure to hold key support levels could push XRP down to bearish targets of $2.07. Notably, this level coincides with the bottom of the currently forming symmetrical triangle on XRP’s price pattern.

Additionally, the analyst mentioned the possibility of further declines to as low as $1.63.

XRP Could Rally to $4 and $8 Soon

Despite this downside risk, XRP’s journey toward new heights continues to gain momentum. A separate commentary by crypto analyst CRYPTOWZRD highlighted this prospect in a strikingly optimistic tweet.

Drawing parallels to XRP’s meteoric rise in 2017, the analyst pointed out that the token has successfully flipped a significant resistance level into support. In his view, this critical technical move has set the stage for what could be an explosive upward trajectory.

Essentially, CRYPTOWZRD’s analysis suggests XRP’s ongoing price action mirrors its past, where a similar breakout led to a massive surge. With the token now trading comfortably above its flipped support, the analyst predicts a rally to $4, followed by a further climb to $8.