- XRP remains above the Bull Market Support band, reinforcing a bullish setup while traders anticipate a weekly bullish engulfing candle toward $7.30.
- EGRAG CRYPTO identified $2.60 and $2.37 as critical levels to monitor if Bitcoin pressure triggers short-term downside before another upward move.
- A weekly bullish engulfing candle could lead XRP to new all-time highs, positioning the asset strongly for long-term growth potential.
XRP is holding a critical position above the Bull Market Support band, with analysts watching for a possible bullish continuation toward new highs.
Bullish Engulfing Candle as Key Indicator
EGRAG CRYPTO shared a recent analysis, emphasizing the importance of the Bullish Engulfing Candle on the weekly chart for XRP. According to the analyst, the pattern could mark the beginning of a strong upward move toward $7.30.
He stressed that many market participants are still calling for a dip, yet the current levels present an opportunity. His comments suggested that prices below $3.00 are favorable for accumulation rather than hesitation.
The outlook is tied to XRP maintaining its stance above the Bull Market Support band. This technical area continues to serve as a strong foundation for sustaining the bullish structure in the coming weeks.
Critical Support Levels to Monitor
While XRP shows strength, EGRAG CRYPTO also outlined key downside targets if Bitcoin exerts pressure on the market. He pointed to $2.60 as the first critical support to watch.
If this level fails, the analyst suggested that $2.37 could provide another entry point before the next upward push. This perspective aligns with the principle of monitoring support levels during market uncertainty.
EGRAG stressed that as long as weekly candles do not close fully below the Bull Market Support band, the bullish scenario remains intact. Traders are urged to watch these levels closely to gauge strength.
Path Toward New All-Time Highs
According to the analysis, the next appearance of a Bullish Engulfing Candle on the weekly timeframe may lead XRP to new peaks. The projected move could take the asset toward $7.30, surpassing its prior record.
Such a development would reinforce the idea that XRP is positioned for long-term momentum as long as structural support levels hold firm. The analystâs forecast keeps the market focused on both immediate risks and possible rewards.
XRPâs positioning above the support band reflects a market still leaning toward optimism, provided external pressures do not disrupt the broader trend. The coming weeks will determine whether this setup translates into a decisive move higher.
