XRP Price Eyes $2.40 With Breakout Above Descending Channel
Crypto analyst Egrag Crypto predicts that the XRP price could rally to $2.40 following its breakout above a descending channel. This bullish momentum hinges on the altcoin breaking another descending channel at $2.2962. A successful close above $2.40 would set higher targets like $2.55, $2.71, and $2.88, potentially paving the way for XRP to reclaim the $3 level and aim for a new all-time high (ATH).
Egrag Crypto recently identified a 'W' pattern, signaling a potential ATH with conservative ($15), average ($22), and optimistic ($40) targets. However, he advises traders to secure profits at lower targets ($6–$7) and manage risk proactively.
👉 Discover how XRP's breakout could reshape the crypto market
XRP Needs to Hold Its Current Level to Stay Bullish
Crypto analyst CasiTrades emphasizes that XRP must hold above $2.16 to maintain bullish momentum. After testing the $2.30 resistance, XRP failed to sustain the $2.25 support, now retesting the $2.18–$2.16 consolidation zone. Holding this level confirms breakout validity, while a breakdown risks a drop to $1.90.
Key levels to watch:
- Support: $2.16 (critical), $1.90 (fallback)
- Resistance: $2.25 (flip to support needed), $2.69, $3.04 (next targets)
Market Context
At press time, XRP trades at $2.19 (-1.2% in 24 hours). Monitoring these technical levels is crucial for traders eyeing the $2.40 roadmap.
👉 Learn strategic trading tips for XRP's volatile moves
FAQs
1. What triggers XRP’s potential rally to $2.40?
A confirmed breakout above the $2.2962 descending channel and a close above $2.40 are critical milestones.
2. What are the risks if XRP loses $2.16 support?
A breakdown could trigger a trend reset, pushing prices toward $1.90.
3. How high could XRP go after $2.40?
Targets include $2.55, $2.71, and $2.88, with long-term ATH projections up to $40 (optimistic).
4. What’s the ‘W’ pattern Egrag Crypto mentioned?
A bullish technical formation signaling a new ATH, with profit-taking advised at $6–$7.
5. Why is the $2.25 level important?
Flipping $2.25 to support could accelerate momentum toward $2.69 and $3.04.
6. Where can I track XRP’s real-time data?
Use platforms like CoinMarketCap for price updates and volume trends.
### SEO Keywords:
- XRP price prediction
- Descending channel breakout
- $2.40 XRP target
- Egrag Crypto analysis
- XRP support levels
- Crypto trading strategy
- XRP all-time high