XRP continues to trade within a well-defined range on the daily timeframe, and one analyst says the overall structure matters more than short-term price moves.
The chart shows XRP respecting key levels and remaining within its range, rather than breaking down suddenly.
Key Points
- XRP trades within a clear daily range, showing structure matters more than short-term noise.
- Strong buyer support holds firm at $1.82–$1.90 despite repeated downside tests.
- Price compression below moving averages suggests a larger move may be building.
- Analysts say XRP could shift into a new uptrend as early as next week.
XRP Respects a Clear Daily Range
Notably, this analysis came from EGRAG, a well-known XRP bull who took to X to share a chart and ask, “What do you see?”
He stressed that traders should focus on structure, not market noise. The most important zones include:
- Strong support around $1.82–$1.90
- A mid-range level near $2.24
- Upper resistance between $2.75 and $2.80
Despite several attempts to move lower, XRP has held above its base support, suggesting stability rather than weakness.
Buyers Continue to Defend the Same Support Zone
One of the key takeaways from EGRAG’s chart is the repeated reaction from the same support area. XRP has formed multiple rounded bottoms near the $1.82–$1.90 zone, indicating that buyers are consistently stepping in at these levels.
Meanwhile, the chart shows XRP is still trading below its daily moving averages, which are acting as resistance. However, the gap between price and these averages is shrinking, signaling increasing compression.
This type of setup often precedes a larger move, especially when the price continues to hold above key support.
Fibonacci Levels
Key Fibonacci retracement levels align closely with XRP’s current trading range:
- The 0.0 level near $1.82 continues to act as a strong floor
- The 0.5 level around $2.24, defines the middle of the range and immediate resistance
- The 1.0 level near $1.96 serves as a short-term pivot area
“Structure > Noise”
EGRAG’s point is that traders should not get distracted by short-term volatility or false moves. As long as XRP holds key support and remains within its range, the overall setup stays intact.
Rather than reacting to every daily candle, the focus should be on how the price behaves around important levels. Notably, this analysis comes as XRP’s price has dipped 6% over the past seven days to $1.92.
XRP Nightmare vs. Conviction Scenario
In an earlier post, EGRAG outlined a worst-case, or “nightmare,” scenario for XRP if market weakness persists. He said further pullbacks of 31% to 47% could occur before the uptrend resumes.
Even so, the analyst noted that his long-term bullish outlook on XRP remains unchanged. He expects double-digit XRP prices in the mid-term.
Breakout Next Week
Separately, a CryptoQuant-verified analyst, CW, says XRP has already broken out of a multi-year consolidation pattern. With selling pressure easing and price holding above the breakout level, CW argues that XRP is transitioning from consolidation into a new upward trend as early as next week.
Other analysts add that XRP breakouts are often sudden and unpredictable, typically rewarding traders who position early.
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.
