Ripple’s native token suffered in the past few weeks, dumping below $1.30 on Thursday for the first time in a while. Although it has recovered some ground, its weakness around the $1.33 line continues to look discouraging.
However, popular analyst EGRAG CRYPTO argued that the choppy price action resembles previous long-term bottoming formations that could translate into a massive run toward the current ATH and well beyond.
Is XRP Building Another Major Bottom?
EGRAG has typically remained focused on XRP’s long-term perspective, and the latest analysis is no different. Looking at the token’s three-month chart, the analyst highlighted three previous bottoming formations that differed in shape but were all choppy, nonlinear, chaotic, and time-consuming.
He believes the current structure around $1.33 is beginning to display similar characteristics, although he stressed that the bottom has not been confirmed yet. His argument is that investors should not expect major bottoms to form through a clean V-shaped reversal. Instead, extended periods of high volatility and repeated failed moves can exhaust traders before a sustainable recovery commences.
The $1.30 region has already attracted attention from other analysts. As recently reported, Bird identified a major demand zone at roughly $1.30-$1.34, while a break above the key resistance at $1.52-$1.56 could potentially open the door toward $2.00. However, the latest rejection at that resistance questioned this narrative.
There are also tentative signs of larger-holder activity around current levels. CryptoQuant data showed that the gap between whale and retail XRP outflows on Binance widened sharply between October 7 and 13, even though the metric alone does not confirm outright accumulation.
Double-Digit XRP?
EGRAG’s long-term thesis comes from the asset’s 21-, 50-, and 100-month exponential moving averages, combined with corrective fractals from previous cycles. If history repeats, he sees $3.67 as the major breakout trigger. Obviously, this 2025 ATH level remains a distant mirage at the moment, but EGRAG noted that a surge past it would bring a series of Fibonacci targets into play, such as $5.25, $6.33, and $8.28. After that lies his ultimately macro target of $13.69.
Given the asset’s current struggles, these figures, even the most modest one, remain highly speculative projections rather than guaranteed destinations. For now, the much more immediate battle remains around $1.30. XRP’s spot activity has recently weakened substantially, with combined trading volume on centralized exchanges falling by almost $2 billion between late August and mid-October.
The post XRP’s Chaos Near $1.33 Could Be the Start of a Much Bigger Move appeared first on CryptoPotato.
Source: https://cryptopotato.com/xrps-chaos-near-1-33-could-be-the-start-of-a-much-bigger-move/
