XRP has struggled to gain momentum since the beginning of March, with its price caught in a downtrend. Despite recent gains, the altcoin is still 26.5% away from reaching $3.00. Crypto analyst Egrag Crypto recently outlined key price levels that could determine XRP’s next move.
Egrag identified $2.65 as the first critical threshold XRP must reclaim to sustain meaningful bullish momentum. However, he also expressed concern over repeated tests of lower boundaries, which can weaken support and increase the likelihood of a breakdown. The analyst believes XRP needs a strong close above $3.00 to escape this cycle and shift into bullish territory.
A close above $2.65 is seen as crucial for XRP’s chances of reaching $3.00. Egrag set an initial target of $4.80, which would place XRP at new all-time highs if achieved. This target is modest compared to the analyst’s more ambitious long-term projections, including a potential surge to $110.
As March comes to a close, XRP bulls will need to manage the current downward pressure. A successful close above $3.00 before the end of the month could pave the way for a price rally and open up new avenues for XRP’s growth.
Source: https://www.newsbtc.com/altcoin/xrp-price-must-close-above-this-level-for-bullish-breakout-analyst-warns