Leading crypto market observer, Egrag Crypto, has identified a crucial price range that could dictate whether XRP’s value rises or falls.
Egrag Crypto’s recent analysis suggests that XRP’s next move – whether it extends its current downtrend or initiates a recovery – hinges on its ability to either maintain current support levels or regain lost ground.
In a post on social platform X, Egrag pinpointed XRP’s existing trading zone as lying between $2.65 and $3.65. The $2.65 mark is seen as the potential endpoint of a five-phase corrective pattern. Conversely, the $3.65 level represents a potential long-term target for bullish traders should they seize control of the market.
At the time of this report, XRP is trading at $3.02, demonstrating a 1.5% increase over the past 24 hours, which marginally reduces its weekly loss to 3.9%. However, the previous month has been challenging for XRP, with a reported loss of 11.7%.
XRP’s Critical Support Found at $2.90
Currently, focus is centered on the $2.90 support level. Egrag pointed out that if XRP closes below this key level on a 4-hour chart, the corrective pattern is likely to extend down to $2.65. This specific price point hasn’t been tested since early August, when XRP momentarily dipped to $2.74.
Meanwhile, trading volume data indicates a surge above the moving average, suggesting significant activity during the recent downturn.
XRP’s Resistance Levels on the Path to Recovery
Should buyers successfully maintain the $2.90 level and drive prices upward, multiple resistance points will need to be overcome. The initial hurdle is the psychological barrier of $3. Now that XRP is trading above this mark, Egrag identifies $3.13 and $3.20 as subsequent milestones. A decisive close above $3.20 would bolster confidence in continued upward movement and diminish the likelihood of further declines.
From that point, attention would shift to $3.45, a price associated with the swing high observed in early August. Surpassing this level would pave the way for a potential climb toward $3.65, the upper limit of the defined macro range.
Egrag believes that a breakthrough beyond $3.65 could signal the commencement of a new all-time high for XRP. This statement follows his prediction just a week ago of a possible 777% price surge to $28, based on observed historical patterns.
Conversely, if XRP fails to hold $2.65, analysts suggest $2.34 as the subsequent support level. This would indicate a more significant correction and confirm the bearish trend has exceeded its initial target.
Other Analysts Weigh in on XRP’s Potential
Elsewhere, fellow crypto analyst Crypto Tony stated that XRP’s prospects remain encouraging as long as it maintains its weekly support near the $3 mark. He encourages traders to remain patient, suggesting further gains are probable if the support line established in July continues to hold strong.
Additionally, Crypto King suggests that XRP might be gearing up for a significant upward surge, projecting potential price targets in the $4.5 to $5.0 range, echoing a similar forecast from crypto analyst Albie for Q2 2026.
Reinforcing this optimistic perspective, Crypto King highlighted a long-term wedge pattern which leans toward further upward potential. He also reminded his audience of his $80,000 long entry at $0.80 from ten months prior. This position is currently showing gains above 270%, and with technical analysis indicating sustained strength, forecasts suggest that XRP’s upward momentum may persist.
Disclaimer: This content is intended for informational purposes only and should not be construed as financial advice. The viewpoints expressed herein, including the author’s personal opinions, do not necessarily reflect those of The Crypto Basic. Readers are urged to conduct their own comprehensive research before making any investment decisions. The Crypto Basic disclaims any responsibility for financial losses incurred.