In Brief:
- XRP analyst EGRAG Crypto identifies a potential reversal after 11 consecutive red candles, with $1.50 emerging as the recovery target.
- XRP could retreat toward $1.13 to $1.16 or $1.05 to $1.07, potentially establishing another major double bottom formation before recovery.
- EGRAG’s historical 2017–2018 fractal comparison highlights potential bullish expansion, with speculative chart projections reaching $5.45 and $10.10 price levels.
Crypto analyst EGRAG Crypto has identified a potential XRP reversal after 11 consecutive red candles appeared on its three-day chart. The analyst expects an initial recovery toward $1.50 before another decline could establish a major double bottom.
According to EGRAG Crypto’s latest X post, XRP’s Heikin Ashi chart shows weakening bearish momentum as a green candle begins forming, potentially ending the prolonged bearish sequence. The analyst emphasized that a confirmed green three-day close remains necessary to validate the emerging reversal signal.
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XRP Analyst Identifies $1.50 Recovery Target Before Another Price Decline
EGRAG identified $1.48 to $1.50 as XRP’s initial recovery target following the potential change in market momentum. This projected movement would represent an important recovery after sustained selling pressure across recent trading sessions.
Additionally, the analyst’s chart highlights $1.26 and $1.4070 as intermediate levels within the broader trading structure. A sustained recovery through these regions could bring XRP closer to the projected resistance area.
Despite the anticipated recovery, EGRAG expects another decline could follow the initial upward movement. The analyst identified $1.13 to $1.16 as the first potential support region during the projected correction.
A deeper decline could bring XRP toward $1.05 to $1.07, establishing another possible buying opportunity. Meanwhile, the chart identifies $0.98 as another historical support level within the broader price structure.
Historical XRP Fractal Points to Potential Major Bullish Expansion
EGRAG also compared XRP’s current price structure with historical movements recorded during the 2017–2018 market cycle. The comparison highlights similarities between previous consolidation patterns and the cryptocurrency’s developing three-day candle structure.
Significantly, the analyst believes another correction could establish a second macro double bottom before a larger bullish expansion, mirroring historical consolidation and recovery patterns.
Its longer-term projection includes reference levels near $5.45 and $10.10, although these remain speculative historical comparisons. EGRAG described the potential double bottom as a major buying opportunity if the projected formation develops. XRP’s immediate direction depends on confirming the developing green candle, which could support the anticipated recovery toward $1.50.
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