XRP has been experiencing significant price fluctuations, drawing the attention of analysts and traders. EGRAG CRYPTO (@egragcrypto), a well-known analyst, recently provided an update on XRP’s performance using a 12-hour time frame. The analysis highlights crucial technical levels that could determine the cryptocurrency’s short-term direction. XRP Crucial Technical Levels According to the latest analysis, XRP must close above the 21 Exponential Moving Average (EMA) at $2.67 to regain bullish momentum. The 21 EMA is widely used by traders to assess short-term trends, and a sustained close above this level could indicate a potential shift toward an uptrend. Notably, this target is close to the $2.7 level highlighted as a crucial jump-off point by another analyst. On the other hand, failure to break above $2.67 may suggest continued bearish pressure. Beyond the 21 EMA, the next critical resistance level is at $2.81, which corresponds to the 0.702 Fibonacci retracement level. This level is particularly significant because Fibonacci retracement levels help traders identify potential price reversal zones. Resistance and Support Zones XRP is struggling to recover from the decline caused by recent tariff threats made by the Trump administration, and the immediate challenge for the asset is breaking through the 21 EMA at $2.67. If the price closes above this level, it would signal renewed strength in the market. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 However, the 0.702 Fibonacci retracement level at $2.81 presents an even greater obstacle. A decisive move past this level would indicate a potential uptrend continuation. On the downside, XRP has a key support level at $2.45, corresponding to the 50% Fibonacci retracement. If the price fails to maintain its position above this level, further declines could push it toward a lower support zone near $2.07. This would indicate a weakening trend and a possible continuation of the recent correction. XRP Potential Price Scenarios If XRP successfully surpasses both $2.67 and $2.81, bullish momentum could intensify, potentially leading to a test of higher levels at $2.96 (Fib. 0.786), and $3.16 (Fib. 0.888). However, if the price struggles to break through these resistance points, it could lead to a rejection and a potential decline toward lower support zones. The broader market sentiment, developments around XRP, and overall cryptocurrency trends will also influence the asset’s price action. If market conditions remain favorable and buying pressure increases, XRP could see the sustained uptrend many analysts are predicting. 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 urged to do in-depth 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 Twitter , Facebook , Telegram , and Google News The post Analyst Outlines XRP Next Targets If it Can Break 21-day EMA appeared first on Times Tabloid .
