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XRP’s price forecast has taken an unexpected turn as one of the Most fiery supporters, Egrag Crypto has issued a BEARISH prediction in the short term. Known in the Crypto community because of his non -repellent bullish attitude towards XRP, the latest prediction of Egrag has surprised many. In a message that was shared on social media platform X, the analyst warned that the current market structure could push XRP in a significant decrease in the short term before a meaningful recovery unfolds.
Egrag Crypto warns of potential decrease to $ 1.24 before Rally
According to Egrag Crypto, the immediate technical prospects for XRP points to the possibility of a sharp correction. Back up his prediction, Egrag Crypto shared a detailed price card Show the current position within a wider Stier Market structure. The graph shows how XRP is currently being traded under the Bull Market Support Band. Especially XRPs Position under the Bull Market Support Band has been continued for more than month, since it was broken in the mid -March. The longer XRP remains under this tire, the higher the possibility of a considerable retest.
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Egrag Crypto noted that the XRP price has So far failed to reclaim The resistance zones of $ 2.33 and $ 2.45, which are on the upper edge of the Bull Market Support Band on the Daily Time Frame graphic. He explained that as long as the price continues to trade under the thresholds of $ 2.33 and $ 2.45, Bears can remain control And drag it actively lower to the 0.702 FIB extension level.
In terms of a price target, this 0.702 FIB is currently at $ 1.24, which means that the price could fall to this level before he recovers above the Bull Market Support band. Interestingly, this $ 1.24 zone coincides with an important breakout structure from November 2024, which served as a launchpad for XRPs Rally to $ 3.4. Consequently, the retesting of this zone can serve as a validation of earlier outbreak strength and ultimately feed a more sustainable upward trend in the long term.
Egrag Crypttos Advice: Accumulate XRP instead of panic sales
Despite his bearish show in the short term, Egrag insisted that holders did not panic or make emotional decisions. He praised the concern that he had expected from followers made it clear that he does not recommend selling XRP to try to time a lower reintroduction. Instead, he encouraged the community to keep accumulating during the predicted dip, Instead of chasing Short -term trends.
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A dip up to $ 1.24, although disturbing to some, could pave the way for a much larger rally that would push the Altcoin into the long -awaited double -digit area. In another analysisEgrag Crypto predicted an XRP price objective in the long term of $ 27.
At the time of writing, XRP acts at $ 2.27, an increase with 5.13% and 7.26% in the last 24 hours and seven days, respectively. This is when a response to Proshares that secures SEC approval to launch three XRP Futures ETFs on 30 April. Likewise the first XRP spot ETF was recently launched By Crypto Asset Manager Hashdex in Brazil.
Featured image of Adobe Stock, Chart van TradingView.com