XRP hovers at $2.07 as technical analysts project ambitious targets from $20 to $200 based on macro channel patterns. The token must reclaim the $2.13 resistance level to trigger bullish momentum, while maintaining support above the critical $1.00 threshold on monthly timeframes.
XRP traders face a critical juncture as the cryptocurrency hovers around $2.07, with technical analysts mapping ambitious targets while warning of potential downside risks. The digital asset struggles to reclaim key resistance levels even as optimistic projections point toward triple-digit gains.
According to ChartNerdTA on X, XRP needs to overcome a significant hurdle at $2.13 where its 20-day exponential moving average sits. The analyst emphasized this level represents the first step toward reigniting bullish momentum for the token.
Macro Trade Setup Points to $200 Ceiling
EGRAG CRYPTO on X presented a comprehensive technical analysis outlining XRP's long-term trajectory. The analyst noted the worst-case scenario appears to be a return toward $1.00, while upside potential remains substantially larger without defined limits.
The monthly structure continues respecting the macro channel that has guided XRP's trajectory since inception. Price action currently consolidates within a classic bull flag formation following the pattern of breakout, retest, and continuation.
EGRAG CRYPTO identified three critical price targets. The bull flag formation points to approximately $20. The top of what the analyst calls "The Line 1" sits around $35. The most ambitious target reaches near $200 at the top of "The Line 2."
The analyst stressed $1.00 represents the key macro risk level on monthly timeframes. A monthly close below this threshold would shift the narrative and require reassessment of the bullish outlook. Current price action at $2 remains above the 21 EMA, positioning XRP for potential expansion after the compression phase.
Scam Alert Highlights Crypto Investment Risks
While XRP traders analyze technical patterns, a cautionary tale from Hyderabad demonstrates the dangers lurking in cryptocurrency-adjacent schemes. A 65-year-old retired engineer lost over Rs 1.28 crore to fraudsters operating a fake stock trading racket through WhatsApp and a bogus mobile application.
The victim joined a WhatsApp group called 531 DBS Stock Profit Growth Wealth Group on November 4. An administrator identifying as professor Rajat Verma and an analyst named Meena Bhatt convinced him to download a mobile app named DBS from the domain www.ggtkss.cc, claiming access to exclusive block deals and high-value IPO allotments.
The scheme followed a typical pattern. The victim initially deposited Rs 1 lakh and was permitted to withdraw Rs 5,000 to establish trust. Over the following month through December 5, he transferred larger amounts to subscribe to Capital Small Finance Bank IPO and cover share buybacks. His cumulative transfers through multiple bank accounts and UPI crossed Rs 1.2 crore.
When attempting to withdraw his balance, the scammers demanded a 20 percent commission before freezing his account. The victim approached Cyberabad cyber crime police on Friday. Authorities registered a case under multiple sections of the Bharatiya Nyaya Sanhita and the IT Act.
The incident serves as a reminder for crypto investors to verify platforms through official channels and remain skeptical of guaranteed returns or exclusive access claims. Legitimate cryptocurrency exchanges and trading platforms operate with proper licensing and transparent fee structures.
XRP currently trades at $2.07 with a market capitalization exceeding $122 billion. The token maintains its position as one of the top cryptocurrencies despite recent price volatility. Traders watch key support at $2.00 and resistance near $2.13 as determining factors for near-term direction.
Key Takeaways:
- XRP faces resistance at $2.13 with analysts projecting targets between $20 and $200 based on macro channel patterns
- Technical analysis identifies $1.00 as critical monthly support level that must hold to maintain bullish outlook
- Hyderabad engineer loses Rs 1.28 crore to fake stock trading app highlighting risks in investment fraud schemes
#XRP #Cryptocurrency #TechnicalAnalysis #CryptoScams #XRPTradingXRP Bulls Eye $20 Target Despite $2 Struggle
Stay updated on the latest cryptocurrency news on our homepage.
Explore more in XRP News Category.
Related reading:
Key Topics
Crypto New Live
admin@cryptonewslive.org
XRP Bulls Eye $20 Despite $2 Price Struggle
XRP analysts project $20-$200 targets while token struggles at $2.07. Technical breakdown shows bull flag pattern amid crypto scam warnings.