XRP Enters Critical Trading Range Against Bitcoin with Three Key Targets

XRP has re-entered a significant trading range against Bitcoin, indicating potential for a breakout. Key price targets identified could confirm a larger macro rally.

XRP Targets Against Bitcoin

The XRP/BTC trading pair is positioned within a critical triangle formation, signaling potential breakout or breakdown scenarios. The following targets have been outlined by analyst Egrag Crypto:

$0.000003033 - Upper boundary of the triangle; a breakout above this level would signal a structural shift.
$0.00003430 - Local high from the last rally; flipping this level into support is crucial for momentum validation.
$0.00004300 - Aligns with the Fibonacci 1.0 level and previous cycle high; surpassing this target could initiate a macro rally, leading to higher Fibonacci extension levels.

Extension levels include:

1.272 Fib ($0.00007244)
1.414 Fib ($0.00009546)
1.618 Fib ($0.00014191)
1.888 Fib ($0.00030000)

Support Levels and Risks

Egrag Crypto has cautioned that maintaining the 0.618 Fibonacci level at $0.00002032 is vital. Falling below this support could lead to a decline to $0.00000611.

Currently, XRP/BTC trades around $0.00002516, showing signs of recovery. If bulls can sustain this level, it may facilitate a transition from resistance to support.