EGRAG CRYPTO Predicts XRP Price Could Drop to $1.24
XRP's price outlook has shifted as analyst EGRAG CRYPTO, known for his bullish stance, issued a short-term bearish prediction. He warned of a potential drop to $1.24 before any significant recovery.
Key Insights from EGRAG CRYPTO
- EGRAG's technical analysis indicates a sharp correction may occur due to XRP trading below the bull market support band.
- XRP has struggled to reclaim resistance zones at $2.33 and $2.45, maintaining bearish control.
- The 0.702 Fibonacci extension level is positioned at $1.24, suggesting a possible decline to this target before a rebound.
- Retesting $1.24 could validate previous breakout strength from November 2024, potentially fueling a long-term uptrend.
- Despite the bearish outlook, EGRAG advised holders to accumulate XRP rather than panic sell.
- Current XRP price is $2.27, with increases of 5.13% over 24 hours and 7.26% over seven days, following SEC approval for XRP Futures ETFs.
