Egrag Crypto sees XRP potentially reaching $6.86 after a breakout, based on a 600% expansion from the $0.98 macro bottom. XRP's breakout came with stronger trading volume and rising network a
XRP has moved fast from a months-long base, but analyst Egrag Crypto says the token remains inside a range until it clears his marked resistance zone. His analysis places the next major target near $6.86, based on a possible 600% expansion from a $0.98 macro bottom. The chart also shows stronger volume, rising activity, and a growing holder count.
From February through May, XRP traded between about $1.28 and $1.50. However, momentum weakened in late May and June, sending the price toward 1.00-1.05 during July and August.
Source: Santiment The market then reversed in late August, breaking above $1.10 before climbing to roughly 1.56-1.58. XRP later pulled back, with the latest price near $1.462.
Meanwhile, the 50-day moving average is near $1.22, while the 200-day average stands around $1.10. The 50-day average has also turned higher as price remains above both measures.
The breakout also came with a sharp increase in trading volume. Daily active addresses rose toward roughly 197,000 on the chart, adding a network activity measure to the price move.
At the same time, the blue holder-count line continued rising throughout the period. It reached roughly 15.2 billion on the chart's scale, according to the provided data. The chart places 1.40 - 1.43 as the nearest support zone. Below that, support appears around $1.22 and $1.10.
Egrag Crypto said technical structure should take priority over opinion and bias. He said XRP remains in the range until it breaks and closes above his green-arrow zone. He compared the setup with the COVID crash and FTX crash, followed by ranges and later expansions.
He cited previous macro expansions of 1,800% and 1,200%. Using a $0.98 macro bottom, Egrag calculated that a 600% expansion would place XRP near $6.86. He said the 6 -7 region would be important for his planned distribution.
Egrag said he trades the range to accumulate more XRP, rather than converting holdings into dollars. He outlined a cycle of crash, accumulation, range, expansion, distribution, and rotation.
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