- XRP eyes a $2.75 breakout, with bullish momentum pushing towards $3.20 resistance.
- EGRAG CRYPTO warns of a potential bull trap as March could trigger a market correction.
- RSI and MACD indicate bullish strength, but caution is advised before the March correction.
The market analysis provided by EGRAG CRYPTO shows that XRP has reached key resistance levels alongside important milestone accomplishments. XRP is approaching key crossover points that could create opportunities to surpass the $2.75 resistance threshold. The current market phase represents a critical stage before XRP eventually breaks out. XRP faces potential risks of forming a bull trap since its current market trends could prove deceptive for optimistic investors.
Price Action Analysis: Is XRP Set to Break the $2.75 Mark?
The cryptocurrency analysis from EGRAG CRYPTO shows XRP actively targeting the key resistance point at $2.75, forming the Ascending Triangle pattern. Market analysts consider the $2.75 level a crucial resistance point that traders are closely monitoring. A breakout above $2.75 could trigger an uptrend, with the next resistance level at $3.20. XRP has recently exhibited high volatility between $2.40 and $2.75, and traders should closely watch price movements in the coming days to assess the sustainability of the bullish trend.
At press time, XRP trades at $2.68, showing a 4.38% increase on the day. This suggests that bullish momentum is present, but investors should stay cautious.
Technical Indicators: What Does RSI and MACD Indicate?
The Relative Strength Index (RSI) stands at 51.22, indicating neutral market sentiment. This indicates that XRP exists between its buy and sell zones, so it can potentially increase or decrease its price. The RSI trend shows slight upward movement, suggesting potential bullish momentum.
Furthermore, the Moving Average Convergence Divergence (MACD) shows a positive divergence. The MACD line has crossed above the signal line, which is generally bullish. Additionally, the histogram shows green bars, signaling bullish momentum.
XRP Total Liquidations: The Bullish Trend Faces Hurdles
XRP liquidation data provides insight into market sentiment. According to Coinglass, on February 19, 2025, XRP showed $364.45K in shorts getting liquidated, which signals that bearish traders are experiencing forced positions. The total amount of XRP long positions remains at $1.36M. The relatively balanced short and long liquidations indicate market uncertainty, as traders on both sides are adjusting their positions in response to XRP’s price action. As March approaches, increasing volatility suggests the price could see sudden shifts in either direction.
Conclusion: Will XRP Continue Its Bullish Run?
XRP is at a crucial juncture. A bullish breakout depends on the $2.75 resistance level remaining intact. RSI and MACD indicators at press time show positive dynamics that indicate a potential price movement up to $3.20. EGRAG CRYPTO warns that investors should exercise caution due to a possible Bull Trap forming on the horizon. The macro Elliott Wave analysis suggests that Wave 2 may conclude in mid-March, potentially following a significant price correction expected to begin in early March. The price forecast remains positive, but investors should cautiously approach the market.
Related: Analyst Predicts XRP Surge to $27 Using Fibonacci Levels
The price of XRP has the potential to exceed $2.75 yet faces possible short-term fluctuations in its value path. The next few days will be crucial in determining whether XRP’s rally continues or a downturn begins.
