XRP’s price action has taken a step back over the past week, with momentum slowing down amid broader market consolidation. After starting the previous week around $2.75, XRP has struggled with a pullback as sellers controlled most of the just-concluded trading week.
Interestingly, crypto analyst Egrag Crypto has outlined opti mistic scenario where the XRP price could enter a bullish trajectory that sets up short-term targets of $4–$6 and long-term projections as high as $60.
Critical Resistance Around $3 Holding Back XRP’s Rally
At the time of Egrag Crypto’s analysis, XRP was trading at $2.67 on a brief extension of its losses from $2.75. As the analyst noted, XRP has been facing heavy resistance around the $2.75 to $3.00 range. This zone has historical significance, as it marks a psychological threshold from the altcoin’s previous all-time highs levels around $3.40. As such, Egrag Crypto noted that a monthly close above $3.00 would translate into a strong bullish momentum, while a rejection could cascade into a pullback towards support levels.
Should XRP manage to clear $3.00, the next major resistance levels align with Fibonacci extensions at $4.30 and $6.40. What this essentially means is that a strong monthly close above $3 will give XRP the free reign tp push above its current all-time high and it most likely will not meet a strong resistance level until it reaches $4.30 or $6.40.
Beyond the short-term resistance at $3.00, Egrag’s analysis suggests that XRP is forming a Parabolic ARC pattern with three distinct phases. These three phases each have their own price targets of $33, $50, and $60 depending on the path it follows. These paths are highlighted in the XRP price chart below.
The breakout sequence follows a structured roadmap in the event of a breakout above the Fib 1.618 extension level at $6.40. If surpassed, this could open XRP to a long-term price rally to $8, $13, $27, and even $67 based on Fibonacci extension levels.
Rejection At $3 Could Derail XRP’s Price Breakout
Despite the promising setup, there are still risks of a rejection at $3. A failure to reclaim $3 could force XRP into an extended period of sideways movement or, worse, a retracement toward $1.90–$2.00. If market sentiment weakens further and XRP breaks below $1.90, it could indicate a shift toward a deeper correction, with $1.00, or even as the next downside risk level. This extreme case is currently unlikely, though, except there’s something that the analyst calls a ‘Black Swan’ across the entire crypto market.
However, the current market trajectory suggests that the overall bullish structure remains intact, provided XRP holds above key levels, and volume confirms momentum in the coming weeks. At the time of writing, XRP is trading at $2.57.
Featured image from Haberler, chart from TradingView
Christian Encila
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
