Crypto analyst Egrag Crypto has provided a detailed analysis of XRP’s current price action. According to his recent tweet, accompanied by a technical chart, XRP has successfully broken out of the green descending channel, which had previously acted as a resistance level. This breakout is seen as a significant technical development in XRP’s market structure, suggesting that the asset is attempting to reverse its prolonged downtrend. The chart illustrates that the breakout from the green descending channel marks an important shift, but the analyst highlights that the job is not yet complete. XRP must still overcome the resistance posed by the larger pink descending channel that continues to constrain the price action. #XRP – The Break-Out: Th Green Descending Channel is Broken, Now we need the Pink Descending Channel to be broken. Target to close above $2.40 #XRPFamily STAY STEADY and STRONG , Together We Rise and We Shall Fly So High pic.twitter.com/ttVYbItLxK — EGRAG CRYPTO (@egragcrypto) June 30, 2025 XRP: Target to Close Above $2.40 In the tweet, Egrag Crypto emphasizes that the primary target for XRP is to achieve a closing price above $2.40. This level is not only psychological but is also reinforced technically by the upper boundary of the pink descending channel. On the chart, this $2.40 level is indicated as the key resistance line that XRP must surpass to confirm a sustained bullish reversal. The chart also shows various Fibonacci retracement levels, with the 0.5 level marked near $2.338, the 0.618 level at approximately $2.551, and higher targets at 0.702 ($2.715) and 0.786 ($2.8887). These levels suggest potential resistance points if XRP manages to break above the pink channel. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Support and Downside Risks Egrag Crypto also identifies critical downside levels in case of rejection from the upper resistance. The chart indicates support targets at $2.03, $1.77, $1.71, and a deeper level near $1.27. The annotations on the chart describe this current move as the “Third Attempt,” signaling that XRP has made multiple prior efforts to break out of the descending structure but was rejected. A key feature in the analysis is the dotted pink trendline that has acted as both support and resistance throughout this multi-month channel. Maintaining price action above this trendline would be crucial for sustaining bullish momentum. Community Sentiment and XRP Outlook In his message, Egrag Crypto encourages the XRP community , telling them to “STAY STEADY and STRONG. His optimistic outlook is contingent upon XRP’s ability to close decisively above the $2.40 resistance level. The broader implication of this analysis is that breaking the pink descending channel would open the path toward higher Fibonacci targets, potentially extending toward the $2.71 and $2.88 regions. However, failure to do so could make XRP retest lower support levels as outlined in the chart. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post XRP Price Breakout: Analyst Needs This Descending Channel Broken appeared first on Times Tabloid .
