XRP Approaches Key Resistance Levels: Can It Break Above $0.85?

  • XRP approaches key resistance levels, with $0.6450, $0.85, and $1.10 as major targets.

  • Support levels at $0.48, $0.38, and $0.28 are crucial for XRP’s downside protection.

  • Fibonacci projections highlight long-term targets of $7.5, $13, and $27 for potential growth.

XRP is nearing crucial price levels on its monthly chart. According to technical analysis by EGRAG Crypto, XRP is trading within an established price range called “Channel B.” From July 2017 to the present, this channel has prevented XRP from closing above certain levels at the end of the month.

XRP is currently trading at $0.5536, up 1.59% in the last 24 hours. Trading volume has jumped 24.5% to $1.43 billion, and market capitalization has increased by 1.64% to $31.37 billion. The current price action suggests a potential breakout, with the price being squeezed at the upper border of the channel. A monthly close within Channel B could trigger a significant price rally.

Resistance targets for XRP are $0.6450, $0.85, and $1.10. These levels act as critical barriers. The midpoint of Channel B, around $0.85, is a key level to watch. If XRP breaks above this level, the next target w…

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