Crypto analyst Egrag Crypto believes XRP has left behind a period of stagnation and is now entering a new, more active phase dubbed the ‘grinding’ phase. This move, according to Egrag, is characterized by slow yet persistent price action as XRP consolidates its position before potentially breaking out upwards. A key technical indicator highlighting this shift is a falling wedge pattern on the chart. ➡️
Egrag emphasizes that a critical support line at just under $1.80 needs to be maintained, otherwise XRP could falter. The analyst sees two possible short-term trajectories for XRP within the wedge formation. He prefers a lower low before a reversal, suggesting a more robust breakout in the future.
Egrag highlights long-term structural setup with an optimistic outlook on the asset’s trajectory. Despite near-term volatility, he remains confident in XRP’s potential to reach $2.73 and beyond, ultimately aligning with the wedge’s projected breakout point.
His analysis emphasizes a focus on long-term technical indicators rather than short-term fluctuations. Egrag encourages the XRP community to stay positive and patient as they await the anticipated breakout within the third quarter of 2025.