Analyst Eyes $6.40 Target for XRP as Support Holds

XRP is currently drawing attention from traders as the price tests key support levels. Analyst Egrag Crypto recently shared a bold outlook, suggesting that the coin could target $6.40 during the next major market rally. This prediction implies a significant move from current price levels, though the asset must first prove its strength by holding above specific technical benchmarks.

The analysis points to a recent retest of a multi year breakout. While the outlook is optimistic, there is a risk of a short term dip toward the $0.88 level, which aligns with key moving averages. Traders are watching to see if this support zone holds, as it will likely determine whether the coin maintains its current momentum or faces further consolidation.

To reach the higher targets, the asset needs to break through resistance zones near $1.23 and $1.65. Clearing these levels would pave the way for a run toward previous highs near $3.00 and $3.50. While some projections mention even higher potential figures, market participants are keeping their focus on these immediate resistance points.

With a year to date drop of nearly 43 percent, the pressure is on for the coin to reclaim its footing. Current trading volume remains robust, suggesting that market interest in the asset is still high. Investors should keep a close eye on the $1.00 level to see if the price maintains stability in the coming sessions.