A prominent market analyst has weighed in on XRP‘s recent price movements amid market volatility.
Despite the broader uncertainty, particularly with President Trump’s planned tariff hikes and the unexpected rise in U.S. inflation to 3%, the analyst suggests that XRP‘s price between $2 and $3.40 is essentially market noise.
Since the beginning of the bearish phase on January 31, 2025, XRP fell below $3, and it briefly hit a yearly low of $1.7 on February 3, 2025 before recovering above $2. This recent volatility raised questions about the altcoin’s overall momentum, but analyst EGRAG Crypto remains bullish on XRP’s trajectory.
EGRAG pointed out that XRP has continued to maintain an upward path, referencing the ascending blue channel formed on the 12-hour chart following a breakout rally in November 2024. As long as XRP holds above this support level, the analyst remains optimistic.
Despite potential fluctuations, EGRAG identified several key price points that XRP needs to respect to maintain bullish momentum. The lower targets include $2.21, $2, $1.8, $1.74, and $1.6, while the upper targets that signal further upside are $2.62, $2.75, $2.94, $3.22, and the January 2025 peak of $3.4.
As of now, XRP is trading at $2.45, with a slight drop of 0.91%, but analysts believe there is still room for growth. If XRP pushes past the 20-day MA of $2.69, the bullish momentum could strengthen further.
However, any movement between $2 and $3.40 is expected to be part of market consolidation, with no clear direction yet.
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