Analyst Says Anything for XRP Between $2 and $3.40 Is Noise

A prominent market analyst has identified the price levels XRP needs to maintain to stay afloat.

The analysis comes amid the recent range-bound XRP movements, as broader market uncertainty prevails on the back of President Donald Trump’s planned tariff hikes and latest data suggesting an unexpected spike in U.S. inflation to 3% for the first time since June 2024.

Notably, the current bearish phase began on Jan. 31, pushing XRP below the $3 mark as February came. XRP also witnessed a sharp wick to a new yearly low of $1.7 on Feb. 3 before recovering above $2 and holding above the psychological level despite the bearish pressure.

XRP Remains in an Upward Path

In his latest analysis, market watcher EGRAG Crypto suggested that this Feb. 3 wick to $1.7 was a result of market manipulation to take out leverage. Interestingly, order book expert Dom previously confirmed that the dynamics involving the XRP price crash was not natural.

However, despite this turn of events, EGRAG stressed in his recent disclosure that XRP has maintained its upward trajectory. To prove this, he called attention to an ascending blue channel on the 12-hour chart that the altcoin broke above during the November 2024 breakout rally.

Since breaching this ascending channel in late-November 2024, XRP has continued to hold above it, leveraging it as support during periodic pullbacks. The latest drawdown pushed XRP price back toward this blue channel, but the asset respected the support here and recovered above the channel.

XRP 12h Chart | EGRAG Crypto

With XRP still above this channel, EGRAG stresses that it has maintained an upward path. “As long as we stay above this channel, I can’t be anything except super bullish,” the analyst suggested, stressing the necessity of upholding the support at the blue channel.

Levels XRP Needs to Maintain

He admitted that along the line, XRP is likely to witness more wicks. However, he identified five price points that XRP needs to hold above to maintain its bullish traction. According to EGRAG, these lower targets are $2.21, $2, $1.8, $1.74, and then $1.6.

These targets are below the ascending blue channel. As long as XRP remains above these lower levels, its overall momentum is bullish. Nonetheless, if any pullback pushes the token below these levels, the market could flip bearish.

Meanwhile, the analyst also identified five targets to the upside, which, if XRP pushes above, would confirm that an imminent run is on the horizon. These upper targets include $2.62, $2.75, $2.94, $3.22 and the Jan. 16 peak of $3.4. Notably, these levels are all above the ascending blue channel.

EGRAG commented: “Anything between $2 and $3.40 is just noise in the market,” implying that as long as XRP continues to hover between the lower target of $2 and the upper target of $3.4, the market will remain in consolidation, neither breaking above or below.

Currently, XRP changes hands at $2.45, down 0.91% this morning after a 2.5% gain yesterday. Its Commodity Channel Index (CCI) of -52.94 suggests that the asset still has room for growth despite not being in a massively undervalued position. A push to the 20-day MA at $2.69 could strengthen the bulls.

XRP 1D Chart

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