XRP’s Face-Melting Phase: The Numbers Say Price Is Headed Above $10

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP’s price action has come under heavy pressurein recent days alongside the rest of the market, falling back into a major support region around $1.10 with sellers still controllingshort-term momentum. 

The decline has placed XRP directly inside a notable zone on the monthly candlestick long-term chart. Particularly, technical analysis done by crypto analyst EGRAG CRYPTO indicates that XRP may still face one more liquidity sweep before a much larger move above $10. XRP In Face-Melting Phase

EGRAG’s analysis is based onthe monthly candlestick timeframe chart depicting XRP’s behavior around the 50-month and 100-month exponential moving averages. According to the analyst, XRP has shown a recurring pattern on higher time frames whenever it loses the 50 EMA decisively. The breakdown is usually followed by weak momentum, emotional selling, and a final liquidity sweepinto the 100 EMA before the next rally kicks off again. Related Reading XRP Price To See Violent Discontinuous Repricing And $10 Could Only Be The Start 4 days ago

That model is important because XRP’s current monthly candle has already opened the current weekly candlestick below the 50 EMA, placing the price action in a fragile position. This positions XRP in a face-melting phase where it has a possibility of falling to the 100 EMA, while the market continues searching for its true macro bottom. The analyst’s projected path leaves room for more downside first, with the chart pointing to a possible crash below $1. Source: Chart from EGRAG CRYPTO on X

However, one of the more counterintuitive dimensions of EGRAG CRYPTO’s analysis is what he does while anticipating further downside. Rather than waiting for a confirmed reversal, the analyst is actively building a position across a range of entry prices at $1.09, $0.92, $0.85, and even $0.70, treating each level as a probability zone. The Numbers Say XRP Is Headed Above $10

Another interesting part of the analysis is not the possible move lower, but the upside numbers that follow it. EGRAG’s chart shows a major recovery path out of the current support rangeand into a break above the current cycle high at $3.65. The projections show upside levels highlighted at $9, $13, $17, $20, and $27.  Related Reading Ripple IPO Is Not A Pipe Dream: Industry Expert Predicts When XRP Investors Should Expect Public Listing 2 days ago

EGRAG’s point is that the exact bottom may matter less if XRP eventually reaches these projected bullish targets. Risk management matters more than catching the exact bottom,and his example compares entries at $1.09, $0.92, $0.85, or $0.70 with upside targets at $7, $8, $13, and mid-double-digit prices. Entering at those low prices will not matter whenXRP reaches those high targets.

At the time of writing, XRP is trading at $1.14, down by 12% in the past seven days. A move from the current $1.14 price to $10 would require a rally of about 777%. A climb to $13 would represent a gain of more than 1,040%. Lastly, a rally to the $27 level on the chart would require XRP to rise by more than 2,260% from the current range. XRP trading at $1.14 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com