Three Things to Know
Crypto analyst Egrag Crypto said XRP reached a downside target he had tracked for weeks, and he now calls the range an accumulation zone.
The daily chart still leans bearish, with price under both long moving averages and momentum pointing lower.
His whole case rests on one line, and a run of heavy-volume closes beneath it would force him to rethink.
A chartist with a large following on X says XRP has landed on a level he flagged weeks ago. He expects one more shakeout before a multi-stage recovery.
The call arrives as XRP drifts just under his key line after a month of steady losses.
Egrag Crypto Bets on $1.18 Even as Price Slips Under It
Egrag Crypto said XRP has reached $1.18. He had tracked that downside target for weeks. He now treats the range as an accumulation zone and said he is 97% in spot positions.
His roadmap allows for one more drop first. He sees a possible dip into the $1.11 to $1.07 area before any recovery. From there he lists a first target at $1.25 and then $1.43 at the top of his channel. Later targets sit at $1.63 and $1.80, with no time frame given.
He also named the condition that would change his view. Consecutive daily closes below his line on “strong selling volume” would make him reassess.
XRP now trades near $1.16, just under his line. Reaching his channel top would take a gain of about 23%. His final target sits roughly 55% higher.
XRP Trades Beneath Both Long Averages After a 16% Monthly Slide
XRP (XRP) daily price with the nearest support (green) and resistance (red). Source: TradingView
XRP has lost about 16% over the past month and roughly 7% in the past week. That pace points to steady selling. The last 24 hours were flat, which looks like a pause.
A moving average smooths out daily swings to show the underlying trend. XRP trades below its 50-day average near $1.31. The 200-day average sits higher, near $1.36. With price under both lines, the broader trend still points down, and those averages now act as ceilings overhead.
That matters for the recovery case. A move toward the channel top Egrag Crypto described would first have to clear the 50-day average. Then it would need to push through the 200-day just above. Until price reclaims those levels on a closing basis, the downtrend remains the default reading.
Sellers Tire but Have Not Let Go
RSI, a 0 to 100 gauge of momentum, sits near 32. That reading is close to the oversold mark of 30. It shows sellers have pushed hard, and stretches like this sometimes come before a relief bounce. Still, the gauge has not turned higher, so there is no reversal signal yet.
The MACD, a tool that compares short and longer price trends, remains below its signal line. Buyers have not taken control.
Trend strength readings show no strong trend in either direction. That fits a market drifting inside a range.
Why $1.25 Is the First Test for the Recovery Case
The nearest chart resistance lines up with Egrag Crypto’s first recovery target. That overlap makes it the first real test of his case. A daily close above it would show buyers can do more than slow the decline.
The next barrier sits at the 50-day average, which has capped rallies during the slide. Bulls would need to take out both levels in sequence before the channel top comes into view.
The downside looks thinner. The chart shows no support until about $0.99, below the floor of his expected dip. If price slips past his lower bound, little stands in the way of a deeper fall.
Two Paths From the $1.18 Line
Bullish: A daily close back above his line, followed by a break of the first target overhead, would open a run at the 50-day average. A slide back under his line after that break would cancel the setup.
Bearish: Consecutive closes below his line on heavy volume, then a loss of the bottom of his dip zone, would point toward the next support far below. A reclaim of the first target would undo that view.
An Accumulation Call That Needs Confirmation
Egrag Crypto’s accumulation view holds up only if XRP climbs back above his line within days.
The risk sits below his dip zone. Support there is thin, so early buyers who step in now could face a steep drop before any rebound arrives.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
