A detailed analysis from cryptocurrency expert EGRAG CRYPTO (@egragcrypto) suggests XRP faces a decisive moment that could significantly impact its price trajectory through 2025. The digital asset, currently trading at $2.27, must overcome a specific technical barrier to prevent a substantial price drop.
EGRAG CRYPTO’s latest technical assessment reveals that XRP needs to successfully breach and maintain a position above $4 on weekly timeframes before March 10, 2025, to maintain its bullish momentum. This critical price point corresponds with Fork C, part of a broader Bent Fork technical formation that has historically served as a formidable resistance zone.
This level is at $3.9. XRP must create a new all-time high to breach this level and secure its bullish momentum for the rest of 2024. According to the analyst, XRP can rally beyond $13 or $15 if it surpasses $3.9 by March 10.
#XRP: 73% Crash Warning Ahead!
( I’m Not Joking!):
**************************************************************************************
Note:
To the OGs
& Newbies
:
For the seasoned warriors OG’s, you know the drill. But I’m genuinely concerned about the newcomers… pic.twitter.com/EsjEJIfxbM— EGRAG CRYPTO (@egragcrypto) January 9, 2025
Can XRP Reach This Goal?
XRP has experienced a notable decline this week, mirroring broader market volatility. It is down 1.26% over the past 24 hours and down over 5% from last week. Despite early signs of bullish momentum, the asset followed the broader market and has yet to recover.
Historical data lends credence to EGRAG CRYPTO’s concerns. His research indicates that encounters with similar resistance levels have preceded significant market corrections over the past decade.
Previous instances resulted in substantial price declines, including an 89.59% drop in December 2015, followed by corrections of 68.97% in May 2017, 64.35% in September 2018, and 73.39% in April 2021.
Based on these historical patterns, failure to overcome the current resistance could trigger an average decline of 74%, potentially pushing XRP’s value toward the $1 mark.
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Is XRP Going to Drop to $1?
The timing of this technical challenge is significant, as it precedes a lunar eclipse scheduled for March 14, 2025. EGRAG CRYPTO’s analysis suggests a historical correlation between lunar events and increased market volatility, often accompanied by downward price pressure.
The current analysis builds upon EGRAG CRYPTO’s Bent Fork framework, initially presented in mid-2023 when XRP traded at $0.51. The asset has demonstrated adherence to this technical model thus far, successfully breaking through Fork B at $1.3 in November 2024, and turning it to support. It subsequently reached $2.9 in December before encountering resistance.
Despite the market uncertainty, EGRAG CRYPTO maintains an optimistic long-term outlook. The $15 target may be ambitious, but other analysts have reiterated this target, and breaching the $3.9 level would set it on the path to $15.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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