XRP Price Primed for $10 Breakout If This Critical Support Holds
XRP bulls are holding their breath as the embattled token tests a make-or-break price floor. A bounce here could send it rocketing past $10—assuming the SEC doesn't throw another regulatory grenade first.
Key levels to watch
The $0.75 support zone has become XRP's line in the sand. Lose this, and the 'to the moon' crowd might need new talking points. Hold it? Then we're looking at a textbook setup for a parabolic move.
Market mechanics at play
Volume's drying up at these levels—classic accumulation behavior before a big move. Whales are either loading up or preparing to dump. As always in crypto, the 'smart money' will profit either way.
Just remember: in an asset class where 'fundamentals' mean whatever Twitter says they do today, technicals are all we've got. That and blind hope.
The native coin of Ripple, XRP, has been the talk of the crypto town recently, as evidenced by the recent movements of the asset.
Notably, xrp price has witnessed a robust rally in the recent weeks, but stayed in the red on the daily timeframe.
However, despite losing some of its gains, the crypto has held a brief support of $3.45, indicating a sustained interest of traders.
Amid this, the market pundits have shared bold forecasts for crypto, which has caught the eyes of traders.
Meanwhile, some of the top market experts even predicted a potential surge to over $10 in the coming days.
Despite that, it’s worth noting that the analysts have highlighted key price levels that the crypto must breach to continue its run to the north.
XRP Price Slips But Analysts Remain Bullish
XRP price has slipped nearly 2% today and traded at $3.45, indicating that the investors are taking a pause after a robust rally.
Besides, the one-day trading volume of the asset also fell 32% to $7 billion, reflecting a low trading activity in the market.
Notably, the crypto has hovered between $3.58 and $3.45 over the last 24 hours. This suggests that the bulls are putting their efforts so that the crypto must maintain its $3.45 support.
However, despite the dip, derivatives data suggests a sustained investors’ interest. According to CoinGlass data, XRP Futures Open Interest ROSE around 0.2% to $10.7 billion.
Besides, the relative strength index (RSI) of Ripple coin was at 35, suggesting that the crypto is currently in a neutral state, and is approaching the oversold condition.
This might also provide more buying opportunity to investors, which in turn might trigger another robust rally ahead.
Meanwhile, the market experts also remained bullish on the long-term trajectory of the coin.
So, here we explore how high XRP price can go in the near future, while evaluating the key price levels that the experts have highlighted.
Key Levels to Watch Ahead
As XRP price soared past the $3.5 level in the last 24 hours, analysts have shared renewed projections for the asset.
For context, renowned market expert Ali Martinez notes that XRP has broken out of a bullish flag pattern on the weekly chart.
He has highlighted $3.5 level as a key zone for the asset. Besides, Martinez noted that breaching the level sets XRP price for a parabolic run to $10 in the coming days.
Simultaneously, EGRAG CRYPTO also echoes this sentiment. He has shared a chart that suggests Ripple coin could rally to $6.26, followed by targets of $16.5 and over $20.
A key level for this bullish outlook is XRP closing above $3.65. Besides, he has also shared three projections based on the market cap and Fibonacci analysis, that has caught the investors’ attention.
How High Can XRP Market Cap Reach? Here’s the Price Targets
EGRAG CRYPTO also highlights Fibonacci targets based on XRP’s market cap analysis. In a recent X post, he has shared three market cap targets based on the Fibonacci (Fib) levels, which are:
- Fib 1.272: $308 Billion
- Fib 1.414: $488 Billion
- Fib 1.618: $946 Billion
Considering XRP’s recent market cap of $203 billion, these targets reflect potential increases of 51%, 140%, and 366%.
If the price also surges at the same rates from $3.45 level, the targets will be at $5.2, $8.28, and $16, respectively.
However, despite the bullish predictions, investors should exercise caution amid the ongoing volatile scenario in the market.
A flurry of experts also predicts a short-term pullback in the broader crypto market, let alone the XRP price. Having said that, the pullbacks might allow investors to enter the market at lower prices.
