XRP Surges 4.25% as Analysts Predict Bullish Trend Above $2.83

XRP, the cryptocurrency, has recently shown signs of ending its correction phase, with analysts predicting a significant price surge. According to various analysts, XRP must close above $2.83 to confirm its strength and target $4.20 next. Key support levels at $2.22 and $2.04 are expected to prevent a bearish breakdown below these levels. A break below the Fibonacci 0.888 level may trigger a dip before a bullish recovery.

Analyst Dark Defender believes that XRP has completed its correction and is expected to target $2.42 first. The key supports are at $2.22 and $2.04, while Dark Defender sees potential for a move towards $4.2932 and $5.8563. This prediction is based on XRP’s ability to sustain momentum above the Ichimoku cloud, a critical indicator for trend confirmation.

Meanwhile, EGRAG CRYPTO highlights the significance of the Blue Channel, which has established an equilibrium at its lower boundary. This technical structure suggests that a rebound is imminent, setting the stage for three potential short-term scenarios. For XRP to confirm a macro uptrend, it must close above $2.83. Achieving this level would signal strength and open the door to a $4.20 price target. As time progresses, these targets could shift higher, further reinforcing the bullish sentiment.

Despite the optimism, a retracement remains a possibility. XRP may retest the Previous Daily Low (PDL), which lines up with the Fibonacci 0.888 level. This area provides strong support, but a sustained break below for three days or more could indicate continued bearish pressure. If the level holds, traders should monitor key levels, including the Previous Daily High (PDH) at $2.40, Previous Weekly High (PWH) at $2.97, and Previous Monthly High (PMH) at $3.07. Higher closing prices will reinforce market confidence and structural strength.

In a pessimistic case, if XRP breaks below the Fibonacci 0.888 level and the PDL, a decline toward the Fibonacci 0.786 level may occur. This could lead to a fair value gap fill. However, EGRAG CRYPTO believes this scenario may be a bear trap, potentially aligning with Bitcoin’s retest of $70,000. If true, XRP could experience a false breakout before resuming its upward trajectory.

At press time, XRP is trading at $2.41, reflecting a 4.25% increase over the past 24 hours. Over the last seven days, the cryptocurrency has gained 3.37%, showing resilience despite market fluctuations. With a circulating supply of 58 billion XRP, the asset boasts a market capitalization of $139,825,634,580.