XRP is tightening up at a critical breakout level, with price action suggesting the market is coiling for its next decisive move. According to a latest update from Egrag Crypto, the XRP 3-day chart continues to flash strong bullish signals despite recent consolidation. Price action remains constructive, with XRP compressing inside a descending channel as it approaches a crucial decision zone between $2.30 and $2.40. The 50-period EMA has begun to flatten, suggesting that selling pressure is gradually easing.
At the same time, the 200-period EMA continues to trend higher, reinforcing the idea that the broader, macro trend remains bullish. XRP is holding above the EMA cluster, indicating that the market structure has not yet broken down. Notably, the upper boundary of the descending channel aligns closely with the former $2.30 breakout level, adding technical significance to this zone. A clean and decisive 3-day close above $2.40 would likely confirm a breakout from compression, opening the door for continuation toward the $2.70 region, with $3.13 emerging as a higher upside objective.
On the other hand, 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 stays intact. This is not a breakdown scenario; rather, it reflects tightening price action that often precedes a strong expansion. In a recent market update, CrediBULL Crypto noted that XRP has now completed its triple-tap move, successfully reaching the upper boundary of its range.
Leave a Reply