Why $2.66 Is The Most Important Level To Beat
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Crypto Analyst Egrag encryption The possibility of XRP price witnessing another corrective action has been discussed. He revealed that XRP needs to maintain an exceeding price level to avoid further downward pressure and upward trend.
XRP needs to stay above $2.66 to avoid corrective actions
exist X PostsEgrag Crypto says that if XRP fails to exceed the $2.65 to $2.70 range, it will not offset the Wave 4 Move and will likely cause XRP to drop to the fifth wave. The chart he accompanied shows that Altcoin could drop to $1.7 in this corrective action, undermining the crucial $2 support level in the process. The analyst has previously stressed that $2.65 is for Bullish breakthrough.
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Egrag Crypto hints about the fact that the US SEC has finally given up on long-term operation Litigation against Rippleusually bullish on XRP. The analyst acknowledged that this was a major victory for long-term adoption and utility, strengthening belief in Altcoin use. However, he added that the focus must be on numbers and charts in the short term.
In line with this, he noted that a closing price above $2.66 would be a good sign, followed by a second closing price of $2.97, as a second bullish confirmation. He asserted that the final confirmation of the bullish trend would be above the closing price of $3.40, which is the current XRP Highest history (ATH). A closing price above $3.40 will result in the next target between $5 and $8.
Crypto Analyst Casitrades Similar sentiments were also responded to, pointing out that XRP needs more than $3.40 to confirm the new trend. Before that, she noted that market participants will have to wait for signs of confirmation until the third wave of the market cycle until the third wave is likely to be obvious. Prior to this, analysts confirmed that the market was on the verge of a breakthrough, and this week could be a decisive moment, which was already the case with the Ripple SEC lawsuit.
The gathering is $5 already playing
Crypto Analyst The dark defender After the SEC decided to withdraw the corrugated lawsuit, it recommended that XRP rallies to $5. The chart he accompanied shows that XRP can witness a breakthrough in the $5 target. AltCoin first rose to around $4.4 on wave 3, then corrected at $3.7 on wave 4, and then corrected at $5.6 on wave 5.
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Meanwhile, crypto analyst Credibull Crypto Increased the possibility of XRP dropping below $2 and reaching $1.7 before starting to rise to upside. He predicts that no matter how price action performs in the short term, Altcoin will gather in double digits.
At the time of writing, the XRP price is trading at about $2.45, up more than 7% in the past 24 hours. data From CoinMarketCap.
Featured images from Adobe Stock, charts from TradingView.com
