XRP is at an important point, and analyst EGRAG says traders are focusing too much on small price movements instead of the bigger picture
He says XRP is currently trading between $1.45 and $1.65. Until the price clearly breaks above or below this range, these smaller movements are mostly noise
In a post on X, EGRAG said XRP is stuck in a narrow range within a larger market trend. He identifies $1.45 as support and $1.65 as resistance. A clear move beyond either level will signal XRP’s next major direction
XRP is currently trading around $1.50, putting it near the lower end of this range. The coin briefly soared to $1.70 last month before quickly dipping below $1.30. Meanwhile, in September, it surged to $1.68 before falling back to around $1.50
As this price action frustrates holders expecting explosive moves, EGRAG urged them to focus on XRP’s broader price trend instead of reacting to every small movement
As long as XRP remains between $1.45 and $1.65, he sees no major reason to change his overall view
For long-term holders, EGRAG sees the current price area as an opportunity to accumulate XRP. However, he says this does not mean a new bullish trend has started
Meanwhile, the accompanying chart shows XRP trading inside a larger downward channel. XRP is around $1.5062 and is testing several important price levels
Key levels to watch include $1.4997, which currently acts as support. XRP would need to break above $1.5545 and $1.5952 to strengthen its recovery. The key level is $1.6583, which closely matches EGRAG’s $1.65 upper range boundary
The chart also shows two sharp price spikes near $1.65. These show that XRP has moved higher into this area before but failed to sustain a breakout
EGRAG’s chart follows an ABC correction pattern
If the C-wave develops, EGRAG points to downside levels around $1.40, $1.37, $1.32, $1.28, and $1.22
Even though EGRAG sees further downside for XRP, he has not changed his long-term strategy. He said he would consider buying more XRP if the price falls to $1.30 or lower. This means he views a deeper decline as a buying opportunity, as he believes XRP’s long-term prospects remain promising
EGRAG is a well-known XRP bull who has previously projected several double-digit price targets for XRP, making the $1 range an opportunity, in his view, to accumulate more of the coin
In sum, EGRAG believes traders should avoid overreacting to small price movements and instead focus on the larger market structure
