XRP News Today: XRP Trapped in 242-Day Bifrost Bridge Range Analyst Predicts 600% Rally If Resistance Broken

Crypto analyst EGRAG CRYPTO has identified a key technical barrier impeding XRP’s upward trajectory, labeling it the “Bifrost Bridge.” This resistance zone has held XRP in a narrow range for over 242 days, preventing a breakout despite broader market activity [1]. The analyst’s analysis highlights repeated failures to close above this critical level, which has transitioned from a support structure to a resistance zone following XRP’s 2022 decline [1].

The current price of XRP, trading near $3.14, remains confined within an ascending channel that EGRAG describes as the Bifrost Bridge. This consolidation phase mirrors a historical pattern observed in 2017, when XRP experienced a multi-month buildup before surging upward. The analyst argues that this precedent strengthens the case for a potential breakout, contingent on XRP overcoming the resistance. A decisive close above the Bifrost Bridge could trigger a 600% rally, propelling the asset toward a $24 price target—a figure aligning with the analyst’s previously stated $27 projection [1].

Technical indicators suggest the market is closely watching the next two-month candle for confirmation of the breakout. The analyst emphasizes that a strong close above the resistance zone would signal a shift in sentiment, potentially unlocking significant upside. However, this outcome remains speculative and depends on XRP’s ability to generate sustained momentum beyond the current consolidation phase [1].

The analysis does not constitute financial advice, and the analyst disclaims responsibility for investment decisions based on these projections. Historical price patterns and technical setups are cited as the primary basis for the forecast, with no guarantees provided for the 600% price target [1].

Source: [1] Analyst Reveals Why XRP Is Stalling, Predicts 600% Mega Pump (https://coinmarketcap.com/community/articles/6888ae54441af60528c98be6/)