XRP is tightening at a crucial breakout level, with price action indicating the market is gearing up for its next decisive move. While short-term volatility has declined, the broader structure remains constructive and points to a potential expansion phase while compression builds up almost significant resistance.
XRP is compressed to a critical decision zone between $2.30 and $2.40
According to one last update from Egrag Crypto, the XRP 3-day chart continues to send strong bullish signals despite recent consolidation. Price action remains constructive, with XRP compressing into a descending channel as it approaches a crucial decision zone between $2.30 and $2.40.
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From a structural point of view, several technical elements point to the underlying strength. The 50-period EMA is starting to level off, indicating that selling pressure is gradually easing. At the same time, the 200-period EMA continues to trend upward, reinforcing the idea that the broader, macro trend is still optimistic.
Moreover, XRP holds above the EMA cluster, indicating that the market structure has not yet been demolished. Notably, the upper limit of the descending channel is closely aligned with the former breakout level of $2.30, adding technical significance to this zone.
From here the implications are clear. A clean and decisive three-day close above $2.40 would likely confirm one outbreak of compression, opening the door for continuation towards the $2.70 region, with $3.13 emerging as a higher upside target.
On the other hand, a rejection at resistance would likely keep XRP trading in a range. However, as long as the price remains above the $2.00 area, the overall bullish structure remains intact. This is not a breakdown scenario; rather, it reflects price tightening that often precedes strong expansion.
Triple Tap reaches reaching heights and reaches a major inflection point
In a recent market updateCrediBULL Crypto noted that XRP has now completed its triple-tap move and successfully reached the upper limit of its range. With liquidity at the levels already achieved, the market is now at a clear crossroads, presenting two different paths for price action going forward.
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The first scenario describes the recent move as nothing more than a relief, a major move liquidity at the highs before the local downtrend resumes, within the uptrend in a higher time frame. If this occurs, the price could turn lower again and possibly fall below the $1.77 level.
In the alternative scenario, the triple-tap pattern is interpreted as the formation of a solid foundation for structural demand. From this view, the pullbacks will likely be accompanied by buying interest, with the lows of $1.77 acting as a support zone rather than a level to break.
Especially taking into account the broader context BitcoinGiven the company’s position and overall market conditions, CrediBULL leans towards the second outcome. This bias favors looking for long opportunities, with the expectation that XRP will continue to grow higher and eventually target untapped levels above the current range.
Featured image from Freepik, chart from Tradingview.com