In the grand theatre of cryptocurrency, where every day brings a new act of drama, XRP is once again center stage, poised for a performance that could either dazzle or disappoint. According to a recent analysis by the illustrious Egrag Crypto, the digital darling of the altcoin world is setting up for another major move, backed by the reappearance of one of its most powerful historical indicators. The 21 EMA and 55 SMA weekly crossover, a phenomenon as rare as a unicorn sighting, has been playing out quite nicely, with XRP recently hitting a high of $3.65 on July 18 before taking a well-deserved breather.
But the question on everyone’s lips is, will this be a fleeting flirtation with fortune, or the start of a grand romance? Egrag’s charts, those beautiful tapestries of data, suggest that we are only in the early stages of this bullish ballet. Historically, when these trendlines have crossed, it has marked the beginning of a strong price rally. The first instance of such a cross was in March 2017, and by the end of that cycle, XRP’s price had soared like Icarus, achieving a 40,000% surge from its low. Then, in August 2020, a similar crossover produced a 750% pump before topping out. Quite the rollercoaster, wouldn’t you say?
The most recent bullish crossover, which occurred in October 2024, has so far resulted in a 560% rise from XRP’s bottom in September 2024. However, there was a similar temporary pump in April 2023 that Egrag, in his infinite wisdom, chose to exclude from his model. Based on different assumptions about the previous price playout between the two cycles, the analyst has outlined two possible targets for the current cycle. The first projection is a 1,500% rally, double that of 2020’s run, which would place the price peak for this cycle at a modest $9. The second, more bullish projection, is a 4,000% rally, which would take XRP to a dizzying height of $24. Now, who wouldn’t want to be a part of that?
Chart Image From X: Egrag Crypto
However, after reaching a new cycle high of $3.65 on July 18, XRP, ever the temperamental star, failed to hold above the $3.21 resistance zone and corrected down to test the $3.00 support level on July 24. The price volatility, though strong, was not enough to break this support level. A true test of character, if you will.
Crypto analyst CasiTrades, a voice of reason in this sea of speculation, weighed in on the current technical setup by pointing to an Elliott Wave count that suggests a major third wave is about to begin. In her analysis, she confirmed that XRP has completed a subwave 2 correction, reaching the deep 0.854 Fibonacci retracement level before bouncing. The key takeaway here is that the price held above $3, never forming a new low, which is now likely the new price floor. A floor, one hopes, that won’t turn into a ceiling.
Chart Image From X: CasiTrades
If buying volume increases and XRP regains its hold above $3.21, the next move is to target $3.82, which coincides with the 2.618 Fibonacci extension. Interestingly, the analyst noted that $3.82 also aligns with what many platforms historically recorded as XRP’s new all-time high. Should XRP close a weekly candle above $3.82, it could lead to prices that align with Egrag’s projections. At the time of writing, XRP is trading at $3.17, a mere whisper away from the next act.
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2025-07-27 21:42