XRP Analyst Highlights Key Level for Market Shift
- Analyst EGRAG CRYPTO suggests XRP is in a “compression phase,” not a breakdown.
- The critical level for XRP’s structure to turn constructive is $2.20.
- Current price action shows a “descending compression” below the 21-period EMA.
- Potential scenarios include a dip to $0.80-$1.00 or a bullish reclaim at $1.65-$1.80.
- XRP traded at $1.41, staying below the 200-week EMA.
EGRAG CRYPTO’s analysis indicates that XRP is experiencing controlled retracement rather than collapse, with the key resistance level set at $2.20 marking the potential shift from correction to expansion phase.
At present, XRP remains in a waiting mode as it hovers around $1.41, emphasizing the importance of the $2.20 level for future market direction changes.
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