Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The XRP price has been exhibiting a complex pattern of consolidation and retracementfor weeks. However, according to prominent market analyst Egrag Crypto, there’s a critical signal to watch for that could determine whether the cryptocurrency’s bullish narrative remains intact or not. The expert’s analysis, shared on X social media, highlights that the behaviour of XRP’s 3-day candlescould soon decide the direction of its next major move. XRP Price Integrity Hinges On 3-Day Candle Closes Below $2
In his post on X, Egrag Crypto explainsthe “measured move breakdown” for XRP, identifying a key technical formation in the form of a descending trianglethat, based on its structure, points to a potential move toward $2.14. The accompanying chart shows XRP hovering between $2.40 and $2.60, with multiple retests of the same price levels over the past few months. Despite the brief wick to the downside, Egrag Crypto suggests that the structure continues to indicate consolidationwithin the range. Related Reading Here’s How High The XRP Price Would Be With The Market Cap Of Bitcoin 5 days ago
The analyst reiterates that $2.65 remains a critical price target for XRP. If the cryptocurrency breaks and sustains above it, he predicts that it could regain upward momentum, potentially paving the way for renewed bullish sentiment. However, failure to hold current levels around $2.5 might expose XRP to deeper retracements, particularly if 3-day candles start closing below the $2.00 to $1.91 range. Source: Chart from Egrag Crypto on X
Egrag Crypto warns that this specific candle behaviour is concerning, as it could signal a structural breakdown of XRP’s market cycle. It could also invalidate his bullish thesis, suggesting that the recent peak near $3.65 may have been the cycle top.
Additionally, the analyst’s chart shows XRP’s price action hovering above the 200 Exponential Moving Average (EMA), serving as a long-term support level. Should XRP maintain its position above this moving average, Egrag Crypto asserts that the cryptocurrency’s bullish setup remains valid. He noted that the next 60 to 90 days are expected to be crucial, as XRP’s reaction around the levels mentioned above could define the trajectory of the rest of the year. XRP Faces 57% Chance Of Breaking To A New ATH
In a separate analysis, Egrag Crypto introduceda 57% to 43% probability model, sharing his broader perspective on XRP’s potential price direction in the short term. He stated that there is a 57% probability that XRP could break into a new all-time highin the coming months. He also sees a 43% chance that the cryptocurrency could decline significantly, offering traders another opportunity to accumulate it at a price below $1. Related Reading Analyst Says Be Concerned About XRP Price When This Starts Happening To 3-Day Candles 1 hour ago
While the probabilities of XRP’s near-term price favor a more bullish outcome, the bearish caseremains plausible given the lingering macroeconomic uncertaintyand overall crypto market volatility. Egrag Crypto notes that he is personally positioning himself toward the bullish scenario, aligning his expectations with the 57% chance of a major price breakout. XRP trading at $2.5 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com