- XRP needs to break key levels to reach $22 target.
- Analyst predicts XRP could hit $22 with successful price breakout.
- Support levels critical for XRP’s potential rally towards $22.
Popular crypto analyst reveals that for XRP to hit the critical $22 mark, it must first close above certain key levels. EGRAG CRYPTO states that the probability of XRP climbing to the $22 target will rely on its ability to shatter key resistance, and the way these levels close will be instrumental in deciding the future price direction of XRP.
EGRAG CRYPTO’s analysis suggests that XRP’s current price action mirrors previous cycles, where significant price rallies followed key breakouts. The analyst foresees another explosive breakout of XRP, just like previous cycles in 2013 and 2018, and that could hit between $22 and $27 in the next few years.
This rally would also be concurrent with the subsequent large-scale price cycle, likely in 2025, when XRP will reach the upper limit of this price target.
Although the future looks bright, the analyst points out that XRP is in a critical period. To keep on the bullish track, XRP must break above some of its most crucial resistance points, namely, $2.85, $2.95, and $3.13.
These thresholds are perceived to be required hurdles to be overcome in the short term before any meaningful upward movement. Finding a break of more than $3.40 would be a game-changer and a possible new all-time high.
Also Read: Top Analysts Slam Critics, Say $10,000 XRP Can Happen – Here’s How
Key Support and Resistance Levels for XRP
The analyst also highlighted the importance of key support levels, particularly $2.65, which could determine XRP’s next direction. If XRP fails to maintain this price, it could lead to further downside, with the possibility of a retest at $2.30. However, when the price is above $2.65, it would create the requisite basis for a move towards a higher resistance level.
For XRP to reach the coveted $22 target, it is imperative to close above the critical levels stated above. This action would be a massive change of direction in the market, and XRP would be in its next large price cycle.
Another factor that has encouraged the positive outlook is the end of the SEC legal battle. The asset no longer has uncertainty clouding it, so the XRP community can now pay more attention to price action and market behavior.
As the crypto market continues to evolve, all eyes are on XRP, waiting to see if it can break these resistance levels and continue its upward journey toward the $22 mark.
Also Read: Trending: XRP Spot ETF Approval About to Happen? New SEC-CFTC Statement Sparks Excitement
