The XRP price is up around 2% on the very first day of 2025, now trading above $2.1. EGRAG CRYPTO posted another viral XRP chart this morning, presenting a detailed technical analysis that’s catching the attention of crypto traders.
XRP Chart Breakdown
The chart reveals a symmetrical triangle pattern, with XRP currently trading at $2.1360. This formation shows converging trendlines with lower highs and higher lows, typically signaling a period of consolidation before a potential breakout.
Several key resistance levels are marked on the chart. The $2.6000 level stands as the immediate resistance, while $2.9100 and $3.7750 are identified as potential targets if bullish momentum continues. On the support side, the $2.0000 level provides immediate backing, with $1.6336 serving as a critical support level. Additional support zones at $1.3700 and $1.2200 could come into play if the price experiences downward pressure.
#XRP – The Noise and the Unicorn Chart:#XRP still respecting the powerful Unicorn Chart and its triangle formation! #XRPFamily STAY STEADY & STRONG https://t.co/uaKF1CusVw pic.twitter.com/uWErsSO6dr
— EGRAG CRYPTO (@egragcrypto) January 1, 2025
The XRP price is currently positioned near the middle of the triangle formation at $2.1360, suggesting a period of market indecision. While the overall trend leading into the triangle appears bullish, the current consolidation phase indicates traders are waiting for a clear directional move.
EGRAG’s accompanying tweet emphasizes the significance of what they call the “Unicorn Chart,” noting that the price action continues to respect the pattern. They advise the XRP community to “STAY STEADY & STRONG,” highlighting the importance of patience during this consolidation period.
The analysis, marked for educational and simulation purposes, suggests that a decisive move above $2.6000 could open the path to higher targets, while a break below $1.6336 might trigger a deeper retracement.
Read also: Key Levels to Watch as XRP Price Pushes Towards a Record Yearly Close: Here’s the Outlook
Typically, a genuine breakout is accompanied by a significant increase in volume and there’s very little volume in the markets in this time of year, so we might have to wait for a few days or weeks until we see something bigger in the XRP chart.
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