XRP closed its most recent monthly chart at $1.4028, marking a decline of $0.0866 or 5.81% over the past month. This pullback has prompted renewed concerns and debate among investors seeking
XRP closed its most recent monthly chart at $1.4028, marking a decline of $0.0866 or 5.81% over the past month. This pullback has prompted renewed concerns and debate among investors seeking to understand whether the altcoin’s broader uptrend remains intact.
EGRAG CRYPTO, a widely followed crypto analyst, addressed the developing situation in a social media post, emphasizing that XRP’s structural outlook has not been compromised by recent downside action. The analyst drew attention to two key exponential moving averages on the monthly chart: the 33-period EMA and the 111-period EMA, which he claims have historically served as markers for major cycle phases in XRP price movements.
He explained that the 33 EMA is currently near XRP’s price and functions as a significant resistance zone in the current cycle. EGRAG CRYPTO believes the interaction with these moving averages will be decisive for the next direction in XRP.
Sometimes people are reading charts, and sometimes they’re just consulting their coffee cups, but the main point remains: XRP can still move down toward $1.20 and fit within its large-scale bullish framework.
He shared that, historically, XRP price corrections occurred while the token held these moving averages, often preceding substantial rallies.
Mini dictionary: EMA (Exponential Moving Average) is a technical analysis indicator that tracks an asset’s average price over a set period, giving more weight to recent prices for trend-following insights.
EGRAG CRYPTO identified $1.20 as the critical level that could determine XRP’s next phase. He described it as his “key line in the sand,” meaning XRP could fall back toward $1.20 and the bullish outlook would remain valid. A monthly close above $1.20, he stated, would maintain the long-term upward case for the cryptocurrency, while sustained trading below that threshold could challenge this perspective.
Looking at prior cycles, major corrections allowed buyers to accumulate XRP at lower prices before the next significant upswing began. EGRAG CRYPTO referenced these past corrections to reinforce his current view.
He argued that the corrective move illustrates a typical structure-building process rather than a breakdown of bullish long-range momentum. According to his analysis, XRP’s bottom is likely in, provided that the $1.20 level is not breached with conviction.
Support/Resistance Price Level Key support (“line in the sand”) $1.20 Current monthly close $1.4028 Resistance to reclaim $1.65On the upside, EGRAG CRYPTO identified $1.65 as the immediate resistance XRP would need to reclaim to support a continued rally. Fibonacci extension levels drawn onto his chart outline several longer-term price targets: $5.1643 at the 1.272 extension, $6.2092 at 1.414, and $8.0911 at 1.618.
He also maintained a long-standing $15 price target, which he labels the “Valhalla Scenario.” According to EGRAG CRYPTO’s chart, achieving this target would require XRP to break decisively out of its current consolidation area and follow an upward path similar to previous market cycles traced back to 2013.
EGRAG CRYPTO is a pseudonymous market analyst known for sharing technical outlooks on major cryptocurrencies and is followed by a large number of traders for his chart-based analyses.
The post XRP analyst warns of possible pullback to $1.20, keeps $15 target in play appeared first on COINTURK NEWS.
