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XRP Price: Three-Month Stability Above $2 Signals Potential Breakout
After a tumultuous 2023, XRP’s price has stabilized above the crucial $2 mark for three consecutive months, sparking excitement among investors and analysts alike. EGRAG CRYPTO, a prominent crypto analyst, is predicting massive gains for XRP, with an extended target of $44 representing a staggering 1,703% increase from current prices.
EGRAG advises taking profits along the way, suggesting that XRP’s price should be taken in as it reaches key levels. Notably, he predicts the asset will break above its established resistance and confirm its next bullish leg.
Meanwhile, another analyst, Crypto Patel, highlights a bullish structure shift following XRP’s sweep of sell-side liquidity. He identifies $2.2220 as a strong order block, making it an attractive entry point for long positions. With XRP reclaiming key levels, traders are eyeing potential upside zones at $2.9990 and $3.4000.
The inclusion of XRP in the U.S. Digital Asset Reserve has boosted market sentiment, signaling growing institutional acceptance. Regulatory hurdles have cleared following the resolution of the SEC vs. Ripple case, paving the way for new industry catalysts like ETF developments, stablecoin expansion, and increased blockchain adoption.
Bitcoin’s recent breakout has also injected fresh energy into the crypto market, driving bullish sentiment across major assets. Historically, strong BTC rallies lead to capital rotation into altcoins, and XRP appears well-positioned to benefit from this trend.
At press time, XRP is trading at $2.64, with a 24-hour trading volume of $5.50 billion and a market cap of $142.87 billion. The asset has experienced slight growth over the past day, as technical indicators suggest that XRP is building up liquidity above its current resistance.
As XRP approaches the critical $2.60 level, traders are keenly watching for signs of a breakout from its current trading range. With regulatory clarity, increasing institutional adoption, and a strong technical setup, XRP seems poised for further gains.
Source: https://blockonomi.com/xrp-price-three-month-stability-above-2-signals-potential-breakout/
