The price rally initiated by the cross-border token in mid-August was halted at $1.70, and the subsequent correction drove it south hard to under $1.35. However, the asset managed to rebound swiftly and now sits above a key support level at $1.40.
This has provided additional fuel to popular bullish analysts such as EGRAG CRYPTO to map out XRP’s next move, which could take it north by almost 100%.
Is $2.70 on the Map for XRP?
The token’s recovery coincided with a substantial increase in trading activity as the spot volume across major exchanges skyrocketed to its highest level since February in late August. Binance alone handled almost $7.3 billion in XRP spot trades, followed by South Korea’s Upbit ($4.7 billion) and Bithumb with $2.6 billion.
EGRAG argued that XRP is now attempting to establish a bullish continuation pattern after recovering from the recent pullback that drove it from $1.70 to $1.33 in just over a week. The key here will be whether buyers can reclaim the resistance area that has repeatedly capped the asset’s breakout attempts.
If XRP is finally successful, it could aim at $2.70, said EGRAG, which would be a 100% move from the recent lows. However, there are still several hurdles in place.
The first major resistance level stands at $1.50, followed by the next at $1.60. Only if XRP is able to decisively close above both on the daily, it would have the opportunity to target the psychological $2.00. If it doesn’t, it can rely again on the $1.25-$1.30 support, which was already tested successfully recently.
Demand Still Present
Aside from the hurdles, there are some encouraging signs behind the latest leg up. Perhaps the most notable comes from the ETF inflows, as the financial products registered their best week in 2026 at the end of August, attracting over $110 million. The cumulative net inflows consequently tapped a new all-time high of $1.66 billion. Although the trend cooled in the past week, the funds still closed in the green as they have done for the past two months straight.
Ripple whales have also been on a substantial accumulation spree lately. Although these positive developments do not guarantee that EGRAG’s $2.70 target will materialize, they show that demand is still present despite the underlying asset’s rejection at $1.70. However, before it aims at $2.70, XRP would have to overcome other key resistance lines, with the first located at $1.50.
The post XRP Bulls Defend Key Level as Analyst Envisions Another 100% Rally appeared first on CryptoPotato.
Source: https://cryptopotato.com/xrp-bulls-defend-key-level-as-analyst-envisions-another-100-rally/
