EGRAG Crypto, a well-regarded XRP community analyst, has insisted that XRP remains within a powerful accumulation zone.
His bullish disposition comes at a time when XRP has corrected with the rest of the crypto market amid widespread uncertainties. Specifically, between Nov. 3 and 4, the total crypto market cap lost nearly $350 billion, with XRP collapsing 13.16% within this period to the $2.2 price level.
XRP Still in a Bullish Position
However, despite the pullback, EGRAG has maintained confidence in XRP’s long-term prospects. In his latest analysis, EGRAG confirmed that he was presenting the commentary with zero fear in spite of the bloodbath that had just ravaged the market.
According to him, he remains optimistic because nothing has changed on the higher timeframe, as XRP maintains its long-term bullish structure. He first called attention to data distortion that happened across multiple exchanges like Binance, Bitstamp, and Coinbase on Oct. 10. This distortion led to conflicting data, but he identified $1.4 as the Oct. 10 low.
Next, the market analyst revealed that as long as XRP holds above the $1.94 support area, it maintains its bullish structure. EGRAG noted that within this area, XRP remains in one of the most powerful accumulation zones investors have seen. He charged investors to take advantage of this level now that panic has set in, else they will regret it later.
Meanwhile, data from his chart shows that XRP still trades within a range it formed after the drop from $3.4 in January 2025. During the Oct. 10 crash, the altcoin collapsed to retest the lower trendline of this range, but the bulls defended the support at this area, with XRP immediately rebounding into the range.
Micro Wick Target at $10; Macro Wick Target at $50
As XRP continues to trade within this structure, EGRAG remains bullish despite the altcoin now sitting closer to the lower trendline. According to him, if a recovery finally leads to an upward breakout, the first target, which he dubs Micro Wick 1, sits at $10. This represents a 326% increase from XRP’s current price of $2.34.
Meanwhile, he noted that if the ongoing correction marks a Macro Wave 2 pull, then the incoming Wave 3, which would represent the recovery push, would hit a target that is 1.618x the increase witnessed during Wave 1. Notably, this would put the upward target at a range between $14 and $25.
Speaking further, EGRAG also highlighted a possible Macro Wick 2 after the Micro Wick 1. He pointed out how some analysts have claimed that XRP could still drop to fill the downward wick on Binance that pushed prices to $0.77 on Oct. 10. Notably, during the Oct. 10 crash, the XRP price collapsed deeper to $0.77 on the Binance exchange.
However, EGRAG argued that if the market could fill the downward wick to $0.77 on Binance, then it could also fill the upward pick to $50 on Gemini. For context, shortly after it listed XRP for the first time in August 2023, Gemini saw a massive XRP price spike to $50 due to thin order books. According to EGRAG, if XRP moves toward filling wicks, then $50 is the real blowoff wick target.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
