- XRP holds strong above key $2.07 support, maintaining a bullish double-bottom pattern with potential for a breakout.
- Analyst EGRAG sees $2.30 as a critical resistance; a close above it could drive the price toward $2.65–$3.00.
- Support between $2.09–$2.14 and the 21-day EMA continues to bolster the bullish case.
XRP continues to capture attention as crypto analyst EGRAG reiterates his unwavering confidence in the digital asset’s bullish potential. According to EGRAG’s latest technical update on June 6, XRP is currently holding a robust double bottom structure, a classic chart pattern that often signals a potential price rebound, provided the price remains comfortably above a critical support level at $2.07.
Currently, XRP is trading at $ 2.17 with a 24-hour trading volume of $ 3.32B and a market cap of $ 128.31B. The XRP price increased by 1.95% in the last 24 hours.
Despite some recent downward pressure, EGRAG emphasizes that the overall structural integrity of XRP’s price action remains intact. He points to the importance of the $2.30 mark on the 3-day chart, describing it as a pivotal resistance level. Should XRP manage a decisive close above this threshold, it would effectively confirm the double bottom pattern and pave the way for upward momentum toward higher targets at $2.65 and potentially $3.00.
“The structure remains strong,” EGRAG commented. “A close above $2.30 confirms the pattern and unlocks higher targets.” This suggests that traders and investors should keep a close watch on price action around this level, as breaking it could trigger renewed buying interest and a significant rally.
However, EGRAG also issued a cautious reminder that the bullish setup depends heavily on maintaining key support zones. He warned that a series of three consecutive daily closes below $2.00 would invalidate the double bottom pattern and point toward a structural breakdown. This scenario could spell trouble for bullish traders and may signal a shift toward a bearish trend.
XRP Price Bottom in Play as Bulls Eye $2.30
Reinforcing his bullish stance, EGRAG highlighted the consistent support XRP has received between the $2.09 and $2.14 range, along with the critical 21-day exponential moving average (EMA), a technical indicator widely used to gauge momentum and trend strength. These support levels have repeatedly acted as a safety net, preventing deeper declines and fostering resilience.
Another notable element on EGRAG’s radar is the low price level reached on April 7, 2025. He expects this area to serve as a crucial retest point before XRP embarks on its next significant upward leg. “This should be the bottom on the 3-day time frame,” the analyst’s chart commentary reads, suggesting this price floor is instrumental for future gains.
EGRAG also offered a word of wisdom for traders navigating the often turbulent crypto markets: “The market loves to shake you out before the move.” This cautionary note underscores the tendency of price volatility to trigger premature exits among traders, only for the asset to surge afterward.
With bullish defenses holding firm above the $2.07 support level and the technical framework pointing toward a potential breakout, XRP appears poised for a decisive move, provided buyers can muster enough strength to push the price beyond the critical $2.30 barrier.
As the crypto community closely monitors these key levels, the unfolding price action could determine whether XRP’s next chapter is marked by a strong upward trajectory or a deeper correction.
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