#TokenMovementSignals

An analyst predicts that the price of XRP could reach $3.20 if it recovers the key support level

The price of XRP could rise to $3.20 if bullish indicators are confirmed on its daily chart.

XRP continued to trade sideways between $2.85 and $2.30, even as the U.S. Securities and Exchange Commission (SEC) acknowledged a series of XRP ETF filings. The price of XRP rebounded above $2.60 while several analysts highlighted the importance of surpassing the $2.75-$2.80 area next.

Egrag Crypto, a market analyst for XRP, noted that XRP (XRP) was trading within an ascending triangle on the 12-hour timeframe.

According to the analyst, the price needs to "close above the apex" of the prevailing chart pattern at $2.75 to "continue the upward trajectory."

"Closing above this level will provide a bullish confirmation to continue the upward trajectory, with a calculated target of $3.20."