- XRP breaks above a consolidation triangle on the 4-hour chart.
- Key support set at $2.34; resistance targets identified at $2.51 and $2.65.
- EGRAG urges traders to watch for confirmation through volume and retests.
XRP gained momentum on Friday after breaking out of a consolidation pattern on the four-hour chart, according to an analysis shared by EGRAG on X. The move follows several weeks of sideways trading, where XRP’s price stayed within a tight range of support and resistance.
EGRAG shared “Before” and “After” charts showing XRP’s breakout above the upper trendline. This signals the start of a potential bullish phase if the price can stay above that zone.
Related: XRP Bull Run Builds as Ripple Prime Debuts, With RLUSD Custody at BNY Mellon
Key Levels Highlighted by Analysts
EGRAG highlighted $2.3450 as a key support level, with short-term resistance targets at $2.5100 and $2.6500. These points come from Fibonacci retracement and extension levels, tools often used to track price direction after a breakout.
The analysis also marks $2.4070, the 0.5 Fibonacci level, as an important midpoint. Traders often watch this area for possible retests. Staying above it could confirm ongoing buying interest, while falling below might suggest a false breakout.
EGRAG added, “Watch this LTF structure,” reminding traders to monitor short-term charts for confirmation before assuming a continued uptrend.
Market Sentiment and Price Context
At the time of writing, XRP trades at $2.55, up 3.8% over the past 24 hours. The token’s move comes after a volatile October, when prices swung between $3.10 and $1.58.
XRP is now sitting near the midpoint of that broader range, hinting at a possible gradual recovery if market conditions remain steady. Despite a 10% monthly drop, XRP has gained 8.4% in the past week, showing renewed short-term strength.
Traders are now watching to see if XRP can break through $2.65, a resistance level tied to earlier monthly highs. A sustained move above this level could signal further upside, while rejection might lead to more consolidation.
XRP’s price movement comes as the wider crypto market remains mixed. Bitcoin and Ethereum are mostly flat, offering little direction for altcoins.
Related: XRP Price Prediction: Buyers Hold Support Amid Breakout Anticipation
Broader sentiment continues to depend on macroeconomic trends and regulatory updates, both of which have kept trading volumes relatively muted in recent weeks.
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