- Analyst EGRAG Crypto highlighted that XRP’s key support remains at $1.94, which could determine its next move.
- XRP price could hit $10 and eventually $50 in the short and long term based on positive fundamentals.
XRP, the Ripple-backed coin, is currently showing positive macro structures. Popular crypto analyst EGRAG Crypto spotlighted the bullish macro structures that could push XRP towards $50.
XRP Price Regaining Momentum
In an X post, EGRAG maintained a positive disposition in the XRP future price outlook amid recent market liquidations.
Specifically, the total crypto market cap lost nearly $350 billion between November 3 and 4. XRP took a major hit, declining 13.16% over this period to $2.2.
Despite this pullback in XRP price, EGRAG has maintained confidence in the long-term prospects of the coin. In his latest analysis, EGRAG explained he has zero fear despite the recent market bloodbath.
EGRAG explained that his confidence stems from the fact that nothing has changed on the higher timeframe. He referred back to the previous post about the XRP chart and data distortion.
The post established that data distortion occurred across multiple exchanges, including Binance, Bitstamp, and Coinbase, on October 10. As a result, EGRAG identified a low of $1.4 for XRP on that day.
In his latest XRP price analysis, the analyst identified $1.94 as a critical support level. According to EGRAG, as long as XRP holds above this level, it remains in a powerful accumulation zone. He urged investors to take advantage of this level before another panic selling sets in.
The chart he shared showed that the XRP price traded within a previous range formed after the drop from $3.4 in January 2025. XRP collapsed to retest the lower trendline of this range during the October 10 market crash. As of writing, the coin was trading at $2.296, up 2.68% in 24 hours.
XRP Micro Wick 1 and Macro Wick 2 Targets
However, the buyers defended the support in this area, with XRP immediately rebounding into the range. EGRAG believes this structure would open a new bullish move for XRP despite the altcoin sitting closer to the lower trendline.
He highlighted a key target, which he dubs Micro Wick 1, that sits at $10. This marks a 326% increase from the current XRP price of $2.32.
The analyst described the current price formation as a “range” rather than a clean pattern like a rectangle or ascending wedge.
EGRAG pointed out that if the current move is part of “Macro Wave 2”, the subsequent “Wave 3” would come stronger. This is typically 1.618 times the length of “Wave 1.”
However, EGRAG conservatively used only the Wave 1 measured move, projecting a range of $14-$25. This suggests a near-term bullish outlook, with $10 as a realistic first milestone if the pattern plays out.
Furthermore, EGRAG questioned why the $0.77 wick gets attention while the $50 wick is ignored. In his opinion, both the $0.77 wick and $50 wick could both balance in time.
Thus, the analyst framed the $50 target as plausible within the current cycle, especially if XRP’s unique fundamentals drive exceptional demand. In a recent study we reported on, Ripple partnered with Mastercard, WebBank, and Gemini to expand blockchain payments.
Moreover, the race for an XRP exchange-traded fund (ETF) is still on. As we covered in our latest report, Franklin Templeton updated its XRP ETF filing with the U.S. Securities and Exchange Commission (SEC).
Recommended for you:
Credit: Source link
