XRP is holding a critical support zone, and traders are closely watching whether this level can sustain the recent breakout from a multi-year symmetrical triangle. The outcome could determine if XRP climbs back above the $2 mark.
Crypto analyst EGRAG Crypto highlights the support band between $0.85 and $0.88 as a decisive area. This zone is where multiple technical signals converge: the lower boundary of the triangle, the White Bridge, the monthly 111 EMA, and the expected retest of the breakout. A quick dip below this range might not immediately negate bullish momentum, but a prolonged monthly close under it could weaken the upward setup.
Path to Higher Prices Hinges on Key Indicators
According to the same analyst, pushing past the monthly 21 EMA and moving through $1.23 to $1.65 would suggest the current pullback is ending. The plan is clear: defend the $0.85 $0.88 support, then advance beyond $1.23 and $1.65, before challenging the $3.00 to $3.50 resistance zone.
Longer-term targets shared by EGRAG Crypto are $6.40 and $30, but hitting the latter depends on XRP surpassing and holding above previous highs. Meanwhile, the monthly 111 EMA might act as the floor, and the 21 EMA remains the level to watch for a fresh upward push.
Another major factor is the pending vote on the CLARITY Act in the U.S. Senate, expected before the August recess. Analyst Dark Defender says this legislation's progress could significantly influence XRP's trajectory. The market is sensitive to regulatory developments, making this vote a key event for investors.
Despite steady total assets under management, data shows that XRP spot ETFs are not recording daily inflows, indicating a cautious stance among institutional buyers for now.
