- XRP rebounds from discounted zones, targeting $2.72 and $2.91 as bullish momentum builds above $2.20 support.
- Break of Structure (BOS) and Change of Character (CHoCH) hint at a bullish trend, with $2.91 as a crucial resistance level.
- Strong buying activity near $2.0825 and $2.20 supports bullish momentum; resistance at $2.7270 remains key for upward movement.
XRP’s price movement reveals important activity as it hovers near crucial levels, aiming for targets of $2.72 and $2.91. The latest analysis by Egrag Crypto highlights discounted zones and key resistance points that traders need to monitor. Currently, XRP is battling market noise within the $2.20 equilibrium zone, which acts as a support area. Recent dips to discounted levels of $2.0825 and $2.20 show strong buying interest, hinting at a potential bullish surge.
Discounted Zones Signal Rebound Opportunities
Discounted Price 1 and Discounted Price 2 mark critical buying zones. These regions triggered rebounds as buying pressure increased. After touching a local low at $2.0825, XRP’s price reversed course, climbing toward resistance levels. Besides, several “Break of Structure” (BOS) points reveal price reversals and trend continuations. Moreover, multiple “Change of Character” (CHoCH) indicators highlight transitions between bearish and bullish structures.
Additionally, a notable CHoCH near Discounted Price 2 shows a shift toward a bullish trend. This shift aligns with projected price movements aiming to surpass $2.40. The green arrows suggest XRP may target $2.7270 and ultimately $2.91 if bullish momentum persists.
Resistance and Premium Zones Hold the Key
The purple resistance lines at $2.72 and $2.91 represent levels where bulls need to maintain pressure. However, XRP previously struggled to breach these levels, leading to pullbacks. Besides, the premium zones show potential selling pressure near $2.6127, where strong highs have formed. If XRP breaks past these zones, the price could move toward its next resistance target of $2.91.
Higher highs (HH), lower highs (LH), and lower lows (LL) reflect the market’s inherent volatility. The ascending structure near the end indicates a bullish outlook. Consequently, traders are closely monitoring whether the bulls can sustain this momentum. Egrag Crypto emphasizes that these levels are vital for XRP’s price trajectory. Furthermore, maintaining bullish momentum above equilibrium and breaching resistance will determine future price movements.
disclaimer read more
Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
