XRP Prices Must Close Above These Levels to Validate Bullish Trajectory

XRP prices moved by almost 3% in the past day as the crypto market bounce continues. However, the prominent altcoin remains in danger of significant market downside.

A recent analysis of XRP prices by X market expert Egrag Crypto suggests that the altcoin is approaching a crucial juncture, setting the stage for either a pivotal breakout or a potential return to lower price levels.

As the crypto market continues its recovery, XRP prices have moved up by almost 3% in the past day. However, the altcoin remains in danger of significant market downside.

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XRP Faces Critical Resistance At $2.41-$2.45, But $2.96 Represents Ultimate Challenge

In a recent series of X posts, Egrag Crypto has stated that XRP was at a major crossroads facing a pivotal breakout or a potential retest.

In line with the crypto market, XRP has seen a sustained price rebound since mid-April, displaying gains of 35.95%. However, Egrag Crypto cautions that the altcoin is encountering major resistance at the price range between $2.41-$2.45. This resistance zone coincides with the descending trend line of the market correction that had dominated the first quarter of 2025.

To bolster the bullish case for its recent breakout, the analyst explains that XRP must move and remain above this price resistance, thereby neutralizing the bearish outlook and setting the stage for a sustained recovery.

“If XRP fails to break out convincingly and slips back into consolidation, we might retest the $1.2-$1.3 zone, providing a massive accumulation opportunity for the long term.”

If XRP fails to make a convincing breakout above $2.41-$2.45 and slips into consolidation, the altcoin faces the potential of a retest to around $1.2-$1.3, representing a potential 46.05% decline from today’s price. However, the analyst explains that such a retest would only provide a massive accumulation opportunity as the long-term outlook for XRP still remains bullish.

In a following post on May 10, Egrag Crypto states that XRP must also quickly reclaim the $2.96 price zone to confirm a sustainable uptrend. Notably, the $2.96 price level represents the next major price resistance after the descending trendline and is the closest to the current local market top.

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XRP Market Overview

At press time, XRP is changing hands at $2.41, reflecting a 2.77% gain in the past day. On larger time frames, the altcoin is still in the green with gains of 10.17% and 23.37% on the weekly and monthly charts, respectively.

Generally, the market sentiment among XRP investors remains bullish, especially following recent developments in the legal case between Ripple and the U.S. Securities and Exchange Commission (SEC).

On May 8, the SEC announced a settlement that includes the return of $75 million held in escrow to Ripple, which comes months after the Commission signaled its intentions to terminate its appeal case against the blockchain company.

With a market cap of $241.95 billion, XRP remains the fourth-largest cryptocurrency and third-largest altcoin in the digital asset space.