**Crypto Analyst EGRAG Reveals Short and Long-Term XRP Targets, Emphasizing Key Resistance Levels for an Uptrend**
In a recent analysis, crypto analyst EGRAG has shared his insights on the short and long-term targets for XRP, particularly focusing on the crucial level the asset needs to surpass to establish a bullish trend. This comes at a time when XRP has been trading within a range of $2.4 to $2.7 over the past week, amid a backdrop of market uncertainty. In his latest report, EGRAG detailed potential price movements for both the short and long term, highlighting significant resistance levels and technical patterns.
**XRP Short-Term Targets**
EGRAG has observed that XRP is currently exhibiting strong bullish momentum in the short term. He pointed out that the asset is nearing a significant resistance zone around $3.00, a level that has historically posed challenges during previous price rallies. The last attempt to retest this area occurred on Valentine’s Day, February 14, where XRP faced a barrier at $2.83. Following that, the asset experienced a pullback and entered a consolidation phase. EGRAG emphasized that a breakout above this resistance could pave the way for further upward movement. He also mentioned that the next Fibonacci extension targets indicate potential price points of $4.3 and $6.4, which would represent new all-time highs. These targets suggest a possible increase of 66% to 147% from current levels.
**XRP Long-Term Target**
Looking ahead, the long-term outlook for XRP appears even more promising, with projections reaching levels that some market commentators have previously deemed unrealistic. EGRAG identified a Parabolic ARC formation that unfolds in three phases, suggesting that if this pattern continues, XRP could soar to much higher levels. His projections indicate that, should the momentum persist, the asset could reach a range between $33 and $60 in the future. He believes that this long-term target could be realized based on the expansive channel projection. A confirmed breakout from the Fibonacci 1.618 level, currently at $6.4, would further validate the potential for upward movement. The next price milestones to watch include $8, $13, $27, and $67, aligning with the second Fibonacci extension. These levels indicate a robust bullish scenario, driven by increased volume and strong momentum, potentially propelling XRP to unprecedented heights.
**Bullish and Bearish Cases**
EGRAG also addressed both the bullish and bearish scenarios for XRP. In the bullish case, he noted that a move above the critical level of $3 would signal confirmation of bullish sentiment. Conversely, if XRP fails to break through this resistance, the $2 mark remains a significant support level. Overall, the long-term targets appear optimistic upon confirmation, but there are risks to consider. Should XRP encounter rejection at $3.00, a retracement to the $1.90-$2.00 range could occur. This area has historically provided strong support, but a decline below $1.90 could signal a bearish phase, potentially driving prices down to the $0.90-$1.00 level. Such a drop would indicate a notable shift in market sentiment.
