XRP has continued to struggle under persistent selling pressure after falling below its short-term trading channel. Despite the recent downturn, crypto analyst Egrag Crypto maintains that the broader bullish trend of the cryptocurrency remains intact and that a significant recovery could still be on the horizon if previous historical patterns repeat.
Key resistance at $1.25 and support levels identified
In a recent post on X, Egrag Crypto pointed to $1.25 as a key level XRP must reclaim on the daily time frame to validate any renewed bullish momentum. He explained that a consistent close above this price would signal early signs of strength and could pave the way for a broader price recovery. According to Egrag Crypto, while XRP’s break below its short-term channel is noteworthy, the macro support structure remains in place, preventing a deeper slide for now.
A close above $1.25 on the daily chart would provide the first sign of renewed strength for XRP, even though it has temporarily slipped below its short-term channel. The underlying support structure is still holding firm.
Egrag Crypto also highlighted the $1.01 to $1.07 range as a likely support zone where XRP might encounter a final liquidity wick before any major advance. He cautioned that if XRP falls below $1, the bullish structure would be seriously challenged, making the $1 level crucial for tracking the token’s broader trend.
| Key Levels | Support | Resistance |
|---|---|---|
| XRP | $1.01–$1.07 | $1.25 |
Analyst’s trading approach: Spot accumulation, leverage caution
Egrag Crypto described his ongoing trading strategy in light of the recent market volatility. He stated that he continues to accumulate XRP through spot market purchases, indicating confidence in the long-term outlook despite current weakness.
Regarding leveraged exposure, Egrag Crypto adopts a cautious stance. He prefers to wait for a convincing confirmation of a trend reversal before considering any leveraged long positions, rather than reacting to short-term market swings. He noted that while he is prepared to increase risk if market conditions become favorable, any use of leverage must be carefully timed.
Spot accumulation remains my preferred strategy in the current environment, while leverage is only considered when a larger opportunity is confirmed.
Long-term targets: $2.10, $3.69, and $17.60 under scrutiny
Looking beyond immediate price movement, Egrag Crypto continues to hold a bullish long-term forecast for XRP. His charts identify $2.10 and $3.69 as intermediate price targets, setting the stage for an ambitious projection of $17.60 if historical fractal patterns play out.
Using historical price data as reference, Egrag Crypto contends that XRP could follow a similar path as in previous cycles, potentially resulting in a large-scale advance should conditions repeat. His projection from $3.69 to $17.60 represents a possible gain of about 375%, but he clarifies that this scenario heavily depends on the recurrence of earlier price structures, leaving room for uncertainties.
Mini dictionary: Fractals in trading refer to repeating patterns or formations on price charts that appear at multiple time scales. Analysts use fractals to identify similar historical market behaviors that could indicate possible future movements.
Community responds with skepticism
While Egrag Crypto stands by his bullish scenario, some market participants have expressed doubt about his projections on social media platforms. For instance, X user Scott Reid responded to Egrag Crypto’s $17.60 target by questioning whether XRP could realistically reach double-digit prices, pointing out that the asset has yet to consistently surpass the $4 mark.
Despite the pushback, Egrag Crypto continues to focus on key technical milestones, emphasizing a daily close above $1.25 as the immediate signal for renewed optimism. He is also closely monitoring price activity in the $1.01 to $1.07 support area as a potential pivot before any significant upside movement.
