XRP is at a key technical juncture as its price hovers within the critical $1.00 to $1.05 range. Cryptocurrency analyst Egrag Crypto identified three technical signals on the daily chart that
XRP is at a key technical juncture as its price hovers within the critical $1.00 to $1.05 range. Cryptocurrency analyst Egrag Crypto identified three technical signals on the daily chart that may indicate an imminent shift in direction for the digital asset.
Posting on X, Egrag Crypto highlighted the $1.00–$1.05 area as a Fair Value Gap (FVG) that is now under scrutiny. According to the analyst, XRP does not necessarily have to fill this entire gap before a potential price reversal. He suggested that even a 50% fill of the FVG could offer substantial support against further declines.
At the time of analysis, XRP was trading close to $1.0477, which positions it firmly within the mentioned support zone. The chart also marks $1.0078 as a significant level just below current trading prices that could act as secondary support if selling pressure increases.
Egrag Crypto is monitoring XRP’s price activity in this bracket, noting that buyer engagement at these levels remains a deciding factor for whether the asset stages a recovery or drops further.
Within the daily chart, Egrag Crypto explained that a 50% fill of the Fair Value Gap in the $1.00–$1.05 zone could be enough for a reversal, rather than requiring a complete fill before buyers step in.
Mini dictionary: Fair Value Gap (FVG) – In technical analysis, an FVG refers to a price area on a chart where an asset quickly moves from one level to another, often leaving unfilled orders. These gaps can serve as potential support or resistance when price returns to the region.
The analyst also focused on XRP’s daily candlestick structure, noting that the candles have grown smaller. He interprets this pattern as an indication that selling pressure may be fading, which could point to seller exhaustion.
Despite this, Egrag Crypto emphasized that these smaller candles alone do not confirm a trend reversal. For a confirmed bullish setup, XRP needs to form a clear upward structure and recover strongly from current lows.
His outlook anticipates an initial move up to the $1.20–$1.25 area, followed by another short-term decline toward $1.00–$1.05. This sequence would create a double-bottom formation — a potential reversal signal if confirmed by a break above resistance.
Support/Resistance Zone Role in Chart $1.00–$1.05 Key support / Fair Value Gap region $1.20–$1.25 Initial recovery target (potential resistance) $1.385, $1.51, $2 Long-term upside targets if reversal confirmedEgrag Crypto’s analysis outlines three key stages for XRP’s potential recovery: an initial movement toward $1.20–$1.25, a retest of lower support, and an attempt to surpass the neckline resistance. Success in these areas could open the path to targets at $1.385, $1.51, and, in a more extended bullish scenario, $2.
However, he was careful to state that the double-bottom structure is not yet fully validated. Confirmation requires a decisive break above the neckline resistance. Without this confirmation, the formation remains a developing price setup rather than a confirmed reversal.
Egrag Crypto maintains that a double-bottom formation is only confirmed if XRP decisively breaks above its neckline resistance, warning traders not to anticipate a full reversal prematurely.
Other community figures have also weighed in on the current setup. CryptoSensei described the scenario as noteworthy and stressed the need for a confirmed breakout before relying on a reversal from the support zone.
X Finance Bull Academy echoed the assessment that the $1.00–$1.05 level could serve as a launch point for a recovery, but also insisted that proven momentum is essential for confidence in any upward move.
Egrag Crypto concluded his commentary by reaffirming his preference for spot trading in the current environment, noting that, “Spot is king. Leverage is a tool.” He continues to track XRP’s price action as it tests the identified support range, keeping a confirmed double bottom as his primary focus for future bullish targets.
The post XRP tests $1.00–$1.05 support, analyst targets $2 breakout appeared first on COINTURK NEWS.
