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XRP Enters Compression Phase, Anticipates Potential Sharp Move
XRP has decreased by 8% over the past week, now trading near $2.74 after failing to sustain above $2.95.
Compression Phase Analysis
- Sistine Research identifies a compression phase in XRP's price action, signifying reduced price swings and increased trading concentration within a narrow band.
- This pattern can result in rapid price movements when pressure releases due to fewer orders in the immediate range.
Potential Breakout Factors
- Liquidity gaps within the compressed range may lead to significant price moves if XRP breaks out.
- Historical data suggests that compression phases have previously led to substantial gains for XRP.

Analyst Projections
- Analysts have projected potential price targets based on Fibonacci extension levels: $8.30, $13.39, and $26.63.
- These projections suggest a possible 770% rally, but come with associated risks.
Market Sentiment
- Egrag Crypto emphasizes historical patterns as indicators of potential future rallies, cautioning against dismissing these setups.
Trading Considerations
- Traders should watch support around current levels and observe order flow near $2.95.
- A breakout could trigger swift price movements; failure to maintain support might lead to a decline.
- The upcoming weeks are critical for determining XRP’s next trend direction.
Featured image from Meta, chart from TradingView