Ripple's native token XRP has faced weakness in recent weeks, dropping below $1.30 on Thursday before recovering slightly. The asset continues to show choppy price action around the $1.33 level.
Analyst EGRAG CRYPTO has identified structural similarities between XRP's current trading pattern and three previous bottoming formations visible on the three-month chart. According to the analysis, these historical formations shared characteristics of high volatility and nonlinear price movement rather than clean reversals.
EGRAG argues that extended periods of volatility and repeated failed moves can exhaust traders before a sustainable recovery begins. The analyst stressed that the current bottom has not yet been confirmed.
Support and Resistance Levels
The $1.30 to $1.34 region has drawn attention from multiple analysts as a significant demand zone. A break above key resistance at $1.52 to $1.56 could potentially open movement toward $2.00, though recent rejections at this level have questioned this scenario.
Data from CryptoQuant indicated a widening gap between whale and retail XRP outflows on Binance between October 7 and 13, though this metric alone does not confirm accumulation activity.
Long-Term Price Targets
EGRAG's long-term analysis incorporates 21-, 50-, and 100-month exponential moving averages along with corrective fractals from previous cycles. The analyst identifies $3.67 as a major breakout trigger, with subsequent Fibonacci targets at $5.25, $6.33, and $8.28, followed by a macro target of $13.69.
The analyst acknowledged that these projections remain highly speculative given XRP's current struggles. Trading volume on centralized exchanges has fallen substantially, declining by almost $2 billion between late August and mid-October.
