BEARISH 📉 : XRP drops 12% to support; analyst warns sweep below $1
XRP slips as sellers keep control. Analyst EGRAG maps a “final sweep” setup before a push above $10.
Sellers still dominate short‑term momentum. EGRAG says the monthly chart sits below the 50‑month EMA, a fragile zone he calls a “face‑melting phase.”
He tracks a recurring pattern: loss of the 50 EMA, weak bounces, emotional selling, then a final liquidity sweep into the 100‑month EMA before the next rally resumes. His path leaves room for a dip that could even break below $1 near term.
He is accumulating, not waiting. EGRAG says he’s adding across levels at $1.09, $0.92, $0.85, and $0.70, treating each as probability zones per his post.
Upside map if the reversal triggers: a break above the $3.65 cycle high, then targets at $9, $13, $17, $20, and $27 per his chart. He frames it as “re‑pricing above $10” after the sweep scenario.
His message: risk management beats bottom‑picking. He notes most participants miss the big leg when it comes historically, while recent flow data show weak interest during drawdowns now.
Key asset in focus: XRP.