XRP is gearing up for a big move: Will it surge or fall to $1.2?

XRP recorded a 3.7% increase as the crypto market brightened today. This altcoin has maintained above the level of $2.20, indicating that the bulls are trying to hold the short term support level.

In this context, a market expert shared about the important resistance level for XRP, stating that this asset must overcome it to continue its upward momentum.

On the contrary, another market analyst has warned of a sharp decline if XRP cannot maintain its price above the important support level ahead.

XRP drops but maintains support level $2.2

The global crypto market capitalization has increased by about 1.18% to 3.36 trillion USD and the total trading volume has increased by more than 5% to 73.96 billion USD.

Notably, the volatility has caused market participants to fear a gradual decline in interest in digital assets.

The price of Bitcoin (BTC) has surpassed $109,000, while altcoins have also recorded a slight increase, with Ethereum (ETH) rising over 2% to $2,577.

In this context, the price of XRP also recorded an increase of more than 2% and is currently trading around $2.27.

At the same time, its daily trading volume has increased by more than 91% to 2.28 billion USD, indicating a strong rise in trading activity in the market.

XRP has fluctuated between the range of $2.21 and $2.26 in the past 24 hours. Notably, the open interest in the futures market for this token has decreased by more than 2.4%, indicating a cautious stance from traders.

However, the Relative Strength Index (RSI) of XRP is still at a level of 52, indicating that the asset is currently in a neutral state.

XRP Price Chart | Source: TradingViewIn other words, the technical indicator shows that XRP is currently neither in a bullish nor bearish state.

What lies ahead?

In the context of XRP's continuously fluctuating price, leading analysts have shared important insights about the future trajectory of this altcoin.

To gain a better understanding, in a recent post on X, renowned market expert Ali Martinez highlighted the important resistance level that XRP needs to surpass to continue its growth momentum.

Martinez stated: "The important resistance level for XRP is $2.38." In addition, he also noted that breaking this level could "trigger" a significant move for XRP.

XRP Price Analysis | Source: Ali MartinezAdditionally, EGRAG CRYPTO has also shared the latest prediction, sparking discussions from the community.

According to the technical chart, EGRAG has set the price target for XRP as "Bellissimo", an Italian term indicating that XRP may be forming a "very beautiful" price trajectory in the future.

The chart you shared shows a classic symmetrical triangle pattern, which has appeared before major breakouts.

Price increase momentum has been recorded

In this case, the price of XRP has broken out of the triangle in an upward direction, signaling growth momentum. The technical model forecasts a minimum price target of nearly $120, representing a growth of up to 9,000% compared to the current price around $2.23.

XRP price prediction | Source: EGRAG CRYPTOThe Fibonacci retracement levels drawn on the right also show some important resistance levels, especially around $3.52, $9.13, $15, and $30, where traders may watch for signs of confirmation or exhaustion of the trend.

However, EGRAG also warns about the possibility of a macro bottom retest. He warns of a pullback to $1.24 to confirm the breakout level before a strong upward movement.

This aligns with traditional technical patterns, where pullbacks often follow initial breakouts, creating a stronger foundation for future upward momentum.

However, EGRAG stated that the price drop will be a "rare opportunity" to accumulate XRP.

In other words, even if the price drops significantly in the near future, experts remain optimistic about the long-term trajectory of this altcoin.

Vincent