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XRP’s price action has taken a step back over the past week, with momentum slowing down amid broader market consolidation. After starting the previous week around $2.75, XRP has struggled with a pullback as sellers controlled most of the just-concluded trading week.
Interestingly, crypto analyst Egrag Crypto has outlined opti mistic scenario where the XRP price could enter a bullish trajectory that sets up short-term targets of $4–$6 and long-term projections as high as $60.
Critical Resistance Around $3 Holding Back XRP’s Rally
At the time of Egrag Crypto’s analysis, XRP was trading at $2.67 on a brief extension of its losses from $2.75. As the analyst noted, XRP has been facing heavy resistance around the $2.75 to $3.00 range. This zone has historical significance, as it marks a psychological threshold from the altcoin’s previous all-time highs levels around $3.40. As such, Egrag Crypto noted that a monthly close above $3.00 would translate into a strong bullish momentum, while a rejection could cascade into a pullback towards support levels.
Should XRP manage to clear $3.00, the next major resistance levels align with Fibonacci extensions at $4.30 and $6.40. What this essentially means is that a strong monthly close above $3 will give XRP the free reign tp push above its current all-time high and it most likely will not meet a strong resistance level until it reaches $4.30 or $6.40.
Beyond the short-term resistance at $3.00, Egrag’s analysis suggests that XRP is forming a Parabolic ARC pattern with three distinct phases. These three phases each have their own price targets of $33, $50, and $60 depending on the path it follows. These paths are highlighted in the XRP price chart below.
The breakout sequence follows a structured roadmap in the event of a breakout above the Fib 1.618 extension level at $6.40. If surpassed, this could open XRP to a long-term price rally to $8, $13, $27, and even $67 based on Fibonacci extension levels.
Rejection At $3 Could Derail XRP’s Price Breakout
Despite the promising setup, there are still risks of a rejection at $3. A failure to reclaim $3 could force XRP into an extended period of sideways movement or, worse, a retracement toward $1.90–$2.00. If market sentiment weakens further and XRP breaks below $1.90, it could indicate a shift toward a deeper correction, with $1.00, or even as the next downside risk level. This extreme case is currently unlikely, though, except there’s something that the analyst calls a ‘Black Swan’ across the entire crypto market.
However, the current market trajectory suggests that the overall bullish structure remains intact, provided XRP holds above key levels, and volume confirms momentum in the coming weeks. At the time of writing, XRP is trading at $2.57.
Featured image from Haberler, chart from TradingView
