XRP Must Stay Above $2.66 to Avoid Further Downside Pressure

Analyst Egrag Crypto indicates that XRP must remain above $2.66 to prevent a corrective downturn. Failure to maintain this level could lead to further declines, potentially dropping to $1.7 if it breaks below the crucial $2 support.

Key Levels for XRP

• XRP needs to close above $2.66 for bullish signals.
• A second confirmation is a close above $2.97.
• A close above $3.40 would indicate a strong bullish trend and potential targets between $5 and $8.

The recent US SEC decision to drop its lawsuit against Ripple may positively influence XRP's long-term adoption, but short-term focus remains on price levels.

Market Predictions

• Analyst Dark Defender suggests an ongoing rally towards $5 post-lawsuit.
• Initial targets include $4.4 (wave 3), followed by corrections and subsequent targets up to $5.6 (wave 5).
• Analyst CrediBULL Crypto warns of a possible dip below $2 before any significant upward movement.

Currently, XRP is trading around $2.45, reflecting a 7% increase in the last 24 hours according to CoinMarketCap.