XRP Price Projection: 5 Important Aspects to Observe with the Bull Market Unfolding

A new analysis from popular cryptocurrency chartist EGRAG CRYPTO on the social media platform X offers an in-depth view of five technical markets on XRP's future path. Recently, XRP's price action has experienced a slight pullback and consolidation in early August, following a rally in July, during which XRP surpassed $3 and reached new all-time highs.

Currently trading around the psychological level of $3.00, XRP's price action is witnessing volatile candles on shorter time frames. However, according to EGRAG CRYPTO's technical perspective, XRP bulls seem to be defending key zones around $2.90, while the broader market sentiment remains cautiously optimistic.

The first key point to observe is the bullish close above $3. On the 4-hour time frame, EGRAG's first key observation is that XRP has managed to close multiple candlesticks above the $3.00 threshold. This level is not only psychological but also a strong confidence booster for traders seeking confirmation of continued bullishness.

In second place, the charts show that most candle wicks are forming from the upper side, a sign that while sellers are active, they have not yet dominated buying strength. However, the third key point to note is a possible correction. In particular, EGRAG observed that a retest of the price zone of $2.96 to $2.93 is possible in the short term. This price range has been marked as a short-term support zone, where buyers may look to reload if XRP briefly falls.

That said, the most critical level for bulls to protect is $2.80, which is the fourth key point to watch. According to the analyst, closing below $2.80 again would undermine the bullish structure and could cause a downward impulse. Thus, staying above this level is crucial to maintaining bullish momentum.

The fifth key point to observe as the bull market unfolds are the price targets that could confirm bullish momentum. In terms of price targets and resistances, EGRAG highlighted specific price levels that would reflect new bullish energy and possibly a breakout to new all-time highs. The first milestone is a close above $3.185. This level previously acted as a rejection zone in late July. Therefore, surpassing $3.185 with conviction would decisively shift sentiment in favor of the bulls.

Above that, the analyst highlighted $3.25 as the next key checkpoint, and surpassing it would put XRP in a strong technical position. Resistance targets beyond that are $3.33 and $3.45, and these are breakout zones that could trigger a new all-time high scenario. These targets align with the upper resistance blocks illustrated in EGRAG's charts, and any solid close above $3.45 could be interpreted as a move to at least $3.65. At the time of writing, XRP is trading at $3, with a 2.4% increase in the last 24 hours.