The market expert says that XRP is now consolidated before the next great movement at $ 27
A well -known market commentator believes that XRP’s ongoing price struggles only reflect a consolidation phase before the next great movement.
Specifically, as the broader cryptographic market Witnesses to big Slump, XRP has observed IVFand consecutive intradic losses for the first time since June and He is now on his way to record a sixth losing day for the first time this year. In the midst of this recession, XRP now quotes for $ 2.73, Having lost the psychological level of $ 3 as well as price brands of $ 2.9 and $ 2.8.
Despite this bearish impulse, the market analyst Egrag Crypto believes that an ascending impulse is still on the horizon. Speaking in a report a few days ago, Egrag sarcastically suggested that XRP was on the verge of witnessing a “accident” price. However, in reality, Egrag took advantage of an inverted price table to predict a possible price recovery at $ 27.
XRP trade within the consolidation channel
In a Updated analysishe He presented the table as it is, which shows multiple lines of trend that they have continued to dictate the action of XRP price during the last decade. However, the most significant trend lines form a channel that previously limited the upward thrust of XRP since May 2022, after Terra’s collapse caused a drop in the region of $ 0.5.
In particular, this channel presents blue and white sections, with the blue section acting as a support and the white one that acts as a resistance. XRP continued to operate within this channel since May 2022, varying between $0.3 and $0.7 Mostly, until it broke out during the upward trend in November 2024.
However, after the breakup, XRP shot at a peak of $ 3.4 in January 2025 before returning on retractors and consolidating at lower levels. Despite the recent recovery of $ 3.6 in July, Egrag’s analysis suggests XRP still remains in the consolidation region, especially in the back of The last price dismissal.
Consolidation before the NEXt Great movement
However, he believes that this is simply the “Consolidation before the next great movement”. Egrag table data show that if XRP is successfully released from this consolidation, a massive bullish trend could occur. Interestingly, this bullish trend eye Alcist objectives alignment with the other trend lines at the upper end of the table.
Specifically, the first line of trend, which rests along the anterior peak of $ 3.6, would mark the rupture above the consolidation phase. From here, The next XRP objective would be the price of $ 7which represents a new historical maximum and an increase of 157% from the current position.
In particular, Egrag presented two more objectives of the $ 7 brand, with the last resting at $ 27. Just a week ago, The analyst took advantage of Fibonacci extension levels To predict an XRP rally to the same region of $ 27, dismissing the projections that the upper part for this cycle could reach around $ 4.
Meanwhile, the Cryptoinsighttuk analyst recently noted This XRP match with Bitcoin has retired to a critical support zone in the 4 -hour table. According to him, this level was previously resistance, and now it is being tested as support, while the RSI shows overall conditions.
He suggested that although this is not a guaranteed fund, this configuration has often led to strong rebounds in the past. The analyst said that he sees a solid case for a possible background formation for XRP, especially when combined with the liquidity situation against the dollar.
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