Secondly, the charts show that most of the candle wicks are forming from the upside, a sign that while sellers are active, they have not overwhelmed the buying strength just yet.
However, the third key thing to watch out for is a possible correction. Particularly, EGRAG noted that a retest of the $2.96 to $2.93 price zone is possible in the near term. This price range has been marked as a short-term support zone, where buyers could look to reload if XRP briefly dips.
That being said, the more critical level for bulls to protect is $2.80, which is the fourth key thing to watch out for. According to the analyst, closing below $2.80 again would undermine the bullish structure and could cause downside momentum. As such, holding above this level is crucial for maintaining bullish momentum.
The first milestone is a close above $3.185. This level previously acted as a rejection zone in late July. Therefore, breaching $3.185 with conviction would flip sentiment more decisively in favor of the bulls. Above that, the analyst highlighted $3.25 as the next key checkpoint, and surpassing it would put XRP in a strong technical position.
At the time of writing, XRP is trading at $3, up by 2.4% in the past 24 hours.
