{"id":2962,"date":"2025-02-16T05:11:06","date_gmt":"2025-02-16T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/xrp-must-push-past-3-40-to-confirm-uptrend-analyst\/"},"modified":"2025-02-16T05:11:06","modified_gmt":"2025-02-16T05:11:06","slug":"xrp-must-push-past-3-40-to-confirm-uptrend-analyst","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/xrp-must-push-past-3-40-to-confirm-uptrend-analyst\/","title":{"rendered":"XRP Must Push Past $3.40 To Confirm Uptrend \u2013 Analyst"},"content":{"rendered":"<p>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 must scale certain price barriers to validate its current bullish momentum.\n<\/p>\n<h2><strong>XRP Must Move Past $3.40 To Retain Market Interest<\/strong><\/h2>\n<p>Popular market analyst Egrag Crypto has shared an intriguing analysis of the XRP market. In an <a href=\"https:\/\/x.com\/egragcrypto\/status\/1890341258956062958\" target=\"_blank\" rel=\"noopener nofollow\">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<p>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<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-697223 size-large\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/02\/GjvWXZ3WwAAqdMi.png?w=860&#038;resize=860%2C350\" alt=\"XRP\" width=\"860\" height=\"350\" \/><\/p>\n<p>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<p>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<h2><strong>XRP Market Overview\u00a0<\/strong><\/h2>\n<p>At press time, XRP trades at $2.73 following an aggregate 6.43% gain in the past 24 hours. The asset&#8217;s 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<p>Amidst its recent price retracement, community sentiments in the XRP market remain highly bullish, especially with the advancement of a potential XRP ETF. By acknowledging Grayscale\u2019s ETF application, the SEC is allowed an initial review period of 45 days &#8211; potentially extensible to 240 days &#8211; to approve or reject the proposed ETF.<\/p>\n<p>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>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/0WbhGsHX\/\" alt=\"XRP\" width=\"1814\" height=\"893\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[149],"tags":[1111,496,150,1509,153,154],"class_list":["post-2962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-egrag-crypto","tag-grayscale","tag-xrp","tag-xrp-etf","tag-xrpusd","tag-xrpusdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=2962"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2962\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2963"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}