XRP Bulls Need This Break For A Shot At $6
Crypto analyst Egrag Crypto (@egragcrypto) outlines the short-term and long-term trajectory of XRP, which points to potential upward targets, ranging from $4-6 to $33-6 in the long term. The shared chart focuses on the formation of historical resistance levels, Fibonacci expansion points and multiphase parabolic arcs.
XRP Eyes $6 – But this critical level hinders
Egrag Crypto charts show The XRP trade is close to $2.67, resulting from the famous bullish surge, but is now at about $2.75 to $3.00 with the red horizontal band. The upper boundary of $3.00 has a dual meaning: it marks a level of psychological importance and also corresponds to a key area of previous cycle peaks. The monthly approach on this line will strongly suggest a bullish continuation, which has the potential to lay the foundation for the stage towards the next Fibonacci extension mark.
“XRP’s current price action is trading at $2.67, showing strong bullish action, but faces resistance in the red level area (~$2.75-$2.83-$2.83-$2.910 and $3.00),” Egrag said. Special highlighting is that FIB 1.414 is close to $4.30, while FIB 1.618 is around $6.40, which is the next obstacle if $3.00 is decisively damaged. Volume surge will increase Bullish case and provide additional confirmation to proceed.
Related Readings
However, failing to exceed $3.00 may trigger a correction back to the $1.90-$2.00 support area, which is closed by early candles. Egrag Crypto notes that if $1.90 cannot be held, it may then drop more broadly to $0.90-$1.00, which analysts mark as potential “Black Swan” scene Probably driven by wider market turmoil rather than XRP-specific weaknesses.
Egrag wrote: “Breaking $1.90 at a price below $1.90 could shift downside risk to the $0.90-$1.00 range. This would indicate that there are potential black swan events in all markets! Such a crash would be A challenging prelude to the XRP ignition phase. Honestly, I don’t like this situation because it will be stressful for all of us (including many OGS). The upcoming Fort Knox review will be the Black Swan’s catalyst.”
Related Readings
In the long run, the chart presents three scattered parabolic arcs (colored yellow, green and blue), suggesting that XRP may be building a wide bullish structure. Price targets in the $33-6 range reflect these arcs and channel expansions, although whether monthly closures above $3.00 can bring ongoing momentum.
The Egrag Crypto is $6.40 at 1.618 and also identifies other Fibonacci-related checkpoints such as $8, 13, $13, $27 and $67 (FIB 1.888). These higher levels will remain speculative until XRP clears the barriers closer and proves a stable volume influx and price structure. “In the upcoming phase, volume and momentum recognition is crucial.”
While the path forward depends on technological breakthroughs, Egrag Crypto highlights the recent movement of $3.00 that is vital to setting the tone. A successful break for transcendence Resistance can confirm the target In the window of $4-$6, the lofty parabolic target is finally opened.
At press time, XRP was trading at $2.6198.
Featured Images created with dall.e, Charts for TradingView.com
