Veteran crypto analyst EGRAG CRYPTO argues XRP is forming a rare third higher macro bottom in his latest macro analysis. The analyst believes XRP could eventually target $9.28, $15.35, and even $31.65 if the pattern completes and major resistance levels are broken. EGRAG's analysis centers on XRP's multi-year market structure showing three successive cyclical bottoms, each forming at a higher level than the last, which he describes as a classic sign of strengthening demand as buyers step in at progressively higher prices.
EGRAG CRYPTO Identifies Triple-Bottom Pattern With Fibonacci Price Targets
EGRAG CRYPTO's chart shows three successive cyclical bottoms, each forming at a higher level than the last. The analyst's bullish outlook is supported by XRP's long-term exponential moving averages (EMAs). According to EGRAG, the 21 EMA reflects macro momentum, the 77 EMA has consistently acted as major cycle support, and the 111 EMA marks the deepest historical support zone.
These indicators converge around the $0.90-$1.00 region, which EGRAG views as a high-conviction accumulation zone with an attractive long-term risk-to-reward profile. The analyst identifies upside targets of $9.28 (1.272 Fib), $15.35 (1.414 Fib), and $31.65 (1.618 Fib) based on Fibonacci extensions.
EGRAG describes these levels as a roadmap based on historical price cycles. The analyst emphasizes that these levels are not guarantees. With the third macro bottom still developing, EGRAG believes the current setup presents one of XRP's most compelling long-term opportunities, provided the breakout is confirmed.
XRP Must Clear $1.23, $1.56, and $2.38-$3.54 Resistance Zones
Before XRP can aim for its Fibonacci extension targets, it must overcome several key resistance levels. EGRAG identifies $1.23 as the first signal of renewed bullish momentum, followed by $1.56 for stronger confirmation.
Beyond this, the critical breakout zone between $2.38 and $3.54 stands as the final major hurdle. According to EGRAG, a decisive move above this range could unlock the upside targets.
Analyst Dark Defender maintains that XRP remains on course to complete the Elliott Wave structure he outlined in late June. Dark Defender identifies $1.13 as critical support, with $1.22 serving as the next immediate upside target.
XRP's long-term chart bears a striking resemblance to Amazon's historic breakout, according to the source analysis. Both charts feature extended accumulation, higher lows, and a Relative Strength Index (RSI) approaching a key macro inflection point.
Current Price at $1.13 Within Symmetrical Triangle Formation
According to CoinCodex, XRP is currently trading at $1.13. The cryptocurrency remains confined within a symmetrical triangle, reflecting an ongoing battle between bulls and bears.
CoinCodex states that a breakout from this tightening formation is likely to determine the asset's next major trend. The source notes that XRP is at a pivotal technical crossroads.
The asset remains in a decisive technical battle, with both bullish and bearish outcomes still firmly on the table, according to the source. If bulls reclaim nearby resistance and validate EGRAG's developing triple-bottom formation, XRP could enter the next phase of its long-term roadmap.
FAQ
What price targets does EGRAG CRYPTO identify for XRP?
EGRAG CRYPTO identifies three Fibonacci extension targets for XRP: $9.28 (1.272 Fib), $15.35 (1.414 Fib), and $31.65 (1.618 Fib). The analyst emphasizes these levels are based on historical price cycles and are not guarantees.
What resistance levels must XRP break to reach these targets?
According to EGRAG CRYPTO, XRP must overcome $1.23 as the first signal of renewed bullish momentum, followed by $1.56 for stronger confirmation. The critical breakout zone between $2.38 and $3.54 stands as the final major hurdle before the asset can aim for the Fibonacci extension targets.
What is XRP's current price and technical pattern?
According to CoinCodex, XRP is currently trading at $1.13 and remains confined within a symmetrical triangle formation. Dark Defender identifies $1.13 as critical support, with $1.22 serving as the next immediate upside target.
