XRP entered the second week of September with a notable weekly gain, prompting analysts to monitor the potential for further upward movement.
Analysts watching XRP’s performance include Egrag Crypto, who has highlighted critical price levels. In his recent analysis, he shared an update on one of his current analysis series, White Flame, which he first presented in January.
This analysis focuses on XRP’s ability to overcome critical price zones, which he called structural formation, sentiment status, MACRO range and psychological zone. These zones represent resistance points just below the $1 mark for XRP.
According to the update, the most significant target price for XRP remains $0.75 with potential for further growth.
If XRP closes above this level on the weekly chart, it could signal a major breakout for the cryptocurrency. In particular, Egrag emphasized that one strong daily candle would be enough to push XRP beyond the marked resistance zone. Based on the update, the analyst emphasized that XRP’s direction is now only up.
Symmetrical Triangle Analysis
This positive forecast is supported by another analyst, Captain Faibik, who provided long-term XRP chart analysis. According to Faibik, since 2018, XRP has been consolidating within a symmetrical triangle.
This formation usually signals an upcoming breakout as price approaches the top of the triangle. Based on his chart, the analyst is forecasting a potential breakout with a price target of around $2.4. If this happens, the price of XRP could rise by more than 299% from its current price level.
Silent relisting of XRP by Robinhood
In addition to technical factors, the price of XRP saw a noticeable increase after quiet leafing on the Robinhood platform. XRP climbed above $0.59 over the weekend, approaching its July high of $0.6602.
This surge came shortly after XRP was relisted as Robinhood’s user list in the European Union. Although the platform has not released an official statement regarding the relisting, XRP is now available under the name “Ripple (XRP)” for eligible EU customers.
The relisting sparked debate in the XRP community, especially regarding the name of the asset, as some community members clarified that Ripple does not control the coin. Currently, Robinhood has not extended support to US customers, leaving uncertainty about future availability outside the EU.
