Tension is building in the XRP charts. After months of sideways trading, the price is tightening into a narrow range, traders could be waiting for a breakout.
Analyst EGRAG CRYPTO says XRP is at a critical point. The key level to watch is $3.13. This level has been hard to break in recent weeks. It also matches the Fib 0.5 retracement level, a zone that often decides if price continues higher or turns lower.
So, what happens next for XRP? Let’s break it down.
XRP Price Is Locked Between Support and Resistance
Since July, XRP has been stuck between $3.30 and $2.60. This sideways movement frustrates short-term traders. But it often signals that a bigger breakout is coming.
The chart shared by EGRAG CRYPTO shows this very clearly. There’s a distinct symmetrical triangle forming, marked by lower highs and higher lows. These patterns don’t last forever.
Eventually, price breaks out, either higher or lower and that’s when volatility tends to return in a big way.
EGRAG’s analysis leans on the idea that XRP could push higher if it manages to close decisively above $3.13. That’s the midpoint between the top and bottom of the current consolidation. A clean break there would likely shift market sentiment more bullish, with eyes on $4.40 as the next possible target.
A Key Rejection Could Lead XRP Lower
Things could go the other way too. If XRP price fails to break above $3.13 and gets rejected again, EGRAG warns that the Ripple price could revisit $2.65 or even $2.40.
Those are levels from earlier support zones on the chart and they’re not just arbitrary. The $2.40 line lines up with the lower boundary of the ascending channel that’s been forming since early this year.
EGRAG also marks $1.95 as a deeper fallback level, but for now, the primary focus remains on how XRP price reacts around the $3.13 level. It’s the kind of moment where traders are watching closely, but staying patient.
The Big Picture Still Points Upward
XRP’s long-term trend is still bullish. The token has followed an ascending trendline since early 2023. If it stays above that line, the uptrend remains strong.
The chart shows a large rising wedge with a target near $6. If XRP flips $3.13 into support, it could revisit old highs and test the upper boundary of the channel.
Right now, XRP is at a crossroads. Everything depends on $3.13. A breakout could push the price toward $4.40 or higher. A rejection could drag it back to $2.40.