{"id":44855,"date":"2025-02-15T18:30:35","date_gmt":"2025-02-15T18:30:35","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=44855"},"modified":"2025-02-15T18:30:35","modified_gmt":"2025-02-15T18:30:35","slug":"xrp-must-push-past-3-40-to-confirm-uptrend-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=44855","title":{"rendered":"XRP Must Push Past $3.40 To Confirm Uptrend \u2013 Analyst"},"content":{"rendered":"

The XRP market experienced a major rally in the last day following the SEC\u2019s acknowledgment<\/a> of Grayscale\u2019s XRP ETF filling. According to data from CoinMarketCap, the prominent altcoin rose by 11% reaching a local peak of $2.81 before experiencing a significant retracement to $2.39. With XRP on the rise again, investors must note the asset must scale certain price barriers to validate its current bullish momentum.\n<\/p>\n

XRP Must Move Past $3.40 To Retain Market Interest<\/strong><\/h2>\n

Popular market analyst Egrag Crypto has shared an intriguing analysis of the XRP market. In an X post<\/a> on February 14, the crypto expert states that the third-largest cryptocurrency must achieve a strong close above $2.75 (marked in green) to sustain its current upward trend.<\/p>\n

Based on historical data, $2.75 has presented a significant resistance level. If XRP can close and hold above this price zone on its 4-hour trading chart,\u00a0 it would indicate that buyers are gaining control of the market following a month of major price loss.<\/p>\n

Thereafter, the altcoin must attain another price close above $2.94 (marked in yellow)\u00a0 which would suggest a higher bullish momentum with significant potential for new highs such as $3.22. For the XRP market, each confirmed close above these specified price levels strengthens the present bullish momentum.\u00a0<\/p>\n

However, Egrag Crypto warns that all price movement below the current bull rally peak of $3.40 will remain merely \u201cnoise\u201d in the long run. The analyst warns that XRP must break above this psychological price level to confirm a certain trend shift in the upward direction.\n<\/p>\n

XRP Market Overview\u00a0<\/strong><\/h2>\n

At press time, XRP trades at $2.73 following an aggregate 6.43% gain in the past 24 hours. The asset\u2019s trading volume is up by 66.61% indicating a high level of interest from market participants. On its 7-day chart, XRP boasts 13.78% gains, reducing its monthly loss to around 8.39%.\u00a0<\/p>\n

Amidst its recent price retracement, community sentiments in the XRP market remain highly bullish, especially with the advancement of a potential XRP ETF<\/a>. By acknowledging Grayscale\u2019s ETF application, the SEC is allowed an initial review period of 45 days \u2013 potentially extensible to 240 days \u2013 to approve or reject the proposed ETF.<\/p>\n

With the implementation of the pro-crypto agenda of Donald Trump, investors are highly positive about an approval suggesting a potential influx of institutional capital as seen with the Bitcoin Spot ETFs.<\/p>","protected":false},"excerpt":{"rendered":"

The XRP market experienced a major rally in the last day following the SEC\u2019s acknowledgment of Grayscale\u2019s XRP ETF filling. According to data from CoinMarketCap, the prominent altcoin rose by 11% reaching a local peak of $2.81 before experiencing a significant retracement to $2.39. With XRP on the rise again, investors must note the asset […]<\/p>\n","protected":false},"author":0,"featured_media":44856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-44855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44855"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44855"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/44856"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}