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XRP prices have taken an unexpected touch like one of its the most ardent supporters, Egrag Crypto, has issued a short -term lower prediction. Known through the cryptographic community for its unwavering bullish position on XRP, the latest Egrag forecasts have succeeded a lot. In an article shared on the social media platform X, the analyst warned that the current market structure could push XRP in a significant short-term drop before any significant recovery takes place.
Egrag Crypto warns against a potential fall to $ 1.24 before the rally
According to Egrag Crypto, the immediate technical perspectives of XRP indicate the possibility of a clear correction. Safeguard his forecasts, Egrag Crypto Shared a detailed price board showing the current position in a broader structure of the bullish market. The graph shows how XRP is currently negotiated below the Haussier market support band. In particular, XRP position under the Bull Market Support Band has dragged on for more months, since its breakup below March. The more the XRP continues to negotiate below this strip, the higher the possibility of a significant retest.
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Egrag Crypto noted that the XRP price Failure so far to recover The resistance areas of $ 2.33 and $ 2.45, which are at the upper end of the upper market support strip on the daily calendar housing. He explained that as long as the price continues to negotiate in the thresholds of $ 2.33 and $ 2.45, Bears could remain in control And slide the asset lower to the FIB extension level of 0.702.
In terms of price objective, this 0.702 FIB is currently at $ 1.24, which means that the price could crash into this level before rebounding over the bull’s market support band. Interestingly, this area of $ 1.24 coincides with a large escape structure from November 2024, which served as a launch of the XRP rally at $ 3.4. Consequently, the new test of this area could serve as validation of the resistance to previous escape and, ultimately, fuel a long -term long -term trend.
EGRAG CRYPTO advice: accumulate XRP instead of panic sale
Despite its short -term lower tone, Egrag has urged holders not to panic or make emotional decisions. Responding to the concerns he provided by the subscribers, he clearly indicated that he did not advise to sell XRP to try to time a lower school year. Instead, he encouraged the community to continue to accumulate during the expected decline, rather than hunting Short -term market trends.
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A decrease to $ 1.24, although disturbing for some, could open the way to a much larger rally which would push Altcoin in the two -digit territory expected for a long time. In another analysisEgrag Crypto predicted a long -term XRP price goal of $ 27.
At the time of writing this document, XRP is negotiated at $ 2.27, up 5.13% and 7.26% in the last 24 hours and seven days, respectively. This comes in response to Proshares obtaining the approval of the dry to launch three ETF XRP on April 30. Likewise, the first ETF XRP SPOT XRP was recently launched By crypto asset manager hashdex in Brazil.
Adobe Stock star image, tradingView.com graphic
