XRP Price At Critical Turning Point: Analyst Maps Simple Breakout Rules

The monthly chart for XRP has entered a critical phase, according to analyst Egrag Crypto. His update outlines three possible outcomes for XRP's future:

XRP must close above $2.60 to maintain bullish momentum, aligning with the 0.5 Fibonacci retracement level.
A break above $3.40, corresponding to the 0.888 Fibonacci level, could signal a macro breakout and potential move to new all-time highs.
A close below the 21-month EMA, currently around $1.83-$1.90, would indicate a breakdown of the bullish trend.

The recent SEC approval of the US Spot XRP ETF by 21Shares, launching under the ticker TOXR, could increase institutional interest and support a bullish scenario if XRP surpasses $2.60 in December.