XRP’s price is showing bullish potential, with analysts predicting a surge to $3.20 if key resistance levels are broken. The altcoin has been trading between $2.30 and $2.85, awaiting a breakout.
This comes as the SEC acknowledges multiple XRP ETF filings, increasing speculation about future price movements.
Analysts Highlight Key Resistance Levels
📌 Resistance at $2.75-$2.80: A breakout could push XRP higher.
📈 Measured target: $3.20 if momentum continues.
⚠️ Potential bull trap: Caution advised for investors.
Crypto analyst Egrag Crypto identified an ascending triangle pattern on XRP’s 12-hour chart. He emphasized that closing above $2.75 would confirm an upward trajectory, targeting $3.20—a 20% increase from current levels.
However, he warned of a potential mid-March correction, signaling the end of Wave 2 in Elliott Wave theory. Analyst Dom echoed similar views, stating that XRP must flip $2.80 into support before aiming for $3.00 and beyond.
XRP Liquidity and Market Outlook
XRP has been in sideways consolidation since February 3, with liquidity remaining high at $2.85. The market remains uncertain until XRP decisively breaks above $2.85 or below $2.30.
If the price clears $2.85, analysts predict a move toward $3.20, absorbing liquidity from the supply zone. A clean breakout above $3.00 could set the stage for even larger gains.
Will XRP Reach New All-Time Highs?
With the SEC acknowledging more XRP ETF applications, optimism for a long-term price increase is growing. Some crypto commentators, like Polly, predict a “god candle” to $6.00 if momentum strengthens.
For now, XRP traders are closely watching $2.85 as a breakout level. A successful breach could trigger the next major rally.
