Risk of significant collapse for XRP if $2.65 support isn't maintained, suggests analyst
In the world of cryptocurrency, the analyst known as EGRAG Crypto has shared a decisively bullish analysis on the market trends of XRP. According to EGRAG, XRP is on the brink of an impending final major price rally before a subsequent bear season.
Currently trading at around $2.81, XRP has experienced a 5.32% decline in the past day and a 22.18% monthly price gain, despite losing over 11.38% of its market value in the last week. The cryptocurrency's crucial support level stands at $2.65, and a successful retest of this level could ignite a rally, pushing XRP to its current all-time high of $3.84.
However, XRP faces an insurmountable resistance around $3.84, which aligns with an intersection between the mid-cycle top and the 21 EMA line. If XRP successfully breaks past this price barrier, a direct rally to the projected cycle top $17 (representing a potential 525% gain on present market prices) could occur.
EGRAG Crypto's analysis suggests two pathways to terminate the price correction: XRP must achieve a daily close above $3.12 or retest the immediate major support level around $2.65. If XRP closes above $3.12, it could potentially rise to higher levels such as $3.60.
In a more ambitious scenario, EGRAG predicts a possible final explosive rally in August 2025, with multiple price targets depending on the scenario. The most conservative target is around $4.89, a 63% gain from current ~$3 price levels. An extremely bullish logarithmic target stands at $48.90, implying a massive 1500%+ gain. Averaging these extremes, EGRAG suggests a bold price projection of about $27 per XRP, representing roughly an 800% increase.
The key to unlocking this rally, according to EGRAG, is XRP breaking decisively above the so-called "Bifrost Bridge" resistance zone, which it has been testing for over 240 days. A breakout here could allow for fast movement to $20–$30 levels, prices not previously seen by XRP.
Despite some short-term trader skepticism and shorting activity, EGRAG remains confident that one final substantial upside leg is forthcoming before a new bear market cycle possibly sets in. The recent pullback after July’s peak ($3.66) is deemed by EGRAG as a pause before this major next rally phase rather than a full trend reversal.
In summary, EGRAG’s current analysis views XRP as on the brink of a historically significant upward move, with technical patterns and long-term charts supporting a potentially large price surge ranging from near-term targets of $4.89-$8 to extraordinary bullish scenarios of tens of dollars per XRP, contingent on overcoming major resistance.
- In the cryptocurrency market, XRP, currently trading at $2.81, is predicted by analyst EGRAG Crypto to experience a significant price rally, possibly reaching its all-time high of $3.84 again.
- EGRAG Crypto suggests that a retest of XRP's crucial support level at $2.65 could ignite this rally, which could continue if XRP breaks past the resistance at $3.84 and the 21 EMA line.
- If XRP successfully surpasses the resistance around $3.84, it could potentially reach the projected cycle top of $17, representing a potential 525% gain on present market prices.
- In a more ambitious scenario, EGRAG predicts a possible final explosive rally by August 2025, with potential price targets ranging from $4.89 (a 63% gain) to as high as $48.90 (a massive 1500%+ gain).
