XRP Must Close Above $2.41-$2.45 to Avoid Bearish Trend
XRP prices increased by nearly 3% over the past day amid a market rebound. However, it remains vulnerable to potential downside risks. Analyst Crypto Egrag indicates that XRP must close above specific price levels to counter this bearish trend and support its bullish outlook.
Key Price Levels for XRP
- Resistance exists between $2.41-$2.45; XRP must maintain levels above this to avoid a bearish scenario.
- XRP has gained 35.95% since mid-April but may retest lower levels around $1.2-$1.3 if it fails to break above resistance.
- Reclaiming the $2.96 level is essential for confirming a sustainable uptrend.
Currently, XRP trades at $2.41, reflecting a 2.77% daily gain. Weekly and monthly gains are 10.17% and 23.37%, respectively. Investor sentiment remains positive, particularly after the SEC's recent settlement involving Ripple, which includes returning $75 million held in escrow.
XRP holds a market cap of $241.95 billion, making it the fourth-largest cryptocurrency.
