The XRP market is facing renewed uncertainty as a prominent crypto analyst has issued a short-term bearish forecast for the asset. EGRAG CRYPTO, widely recognized for his historically bullish outlook on XRP, has surprised the community with a warning of an impending price correction. While the broader sentiment around XRP remains positive due to recent regulatory and product developments, technical indicators suggest a potential dip could precede the next major upward move.
This analysis dives into the reasoning behind the predicted decline, explores key support and resistance levels, and examines why this short-term setback might actually strengthen the foundation for a long-term breakout.
EGRAG CRYPTO Forecasts Short-Term Correction to $1.24
EGRAG CRYPTO recently shared a detailed technical assessment indicating that XRP may be heading toward a significant short-term drop. According to his analysis, the current price structure shows XRP trading below the critical bull market support band—a condition that has persisted since mid-March. When an asset remains below its primary uptrend support for an extended period, the probability of a deeper retest increases.
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The analyst highlighted that XRP has repeatedly failed to reclaim key resistance levels at $2.33 and $2.45 on the daily chart. These levels form the upper boundary of the bull market support band, and their continued rejection suggests bearish momentum is still in control. Without a decisive breakout above these zones, downward pressure could intensify.
Based on Fibonacci extension analysis, EGRAG identified the 0.702 Fib level as a likely target for this correction—currently sitting at $1.24. A move to this zone would not only represent a technical retest but could also validate prior price action from late 2024.
Why $1.24 Is a Critical Support Zone
The $1.24 level holds more than just numerical significance—it marks a pivotal breakout point from November 2024, when XRP began its strong rally toward $3.40. That breakout was fueled by growing institutional interest and favorable regulatory signals, making it a psychologically important area for traders.
A retest of this zone could serve multiple purposes:
- Confirm the strength of the original breakout
- Allow late entrants to accumulate at lower prices
- Shake out weak hands before the next leg up
Historically, healthy bull markets often include such pullbacks, which help consolidate gains and build momentum for future rallies. In this context, a drop to $1.24 may not signal weakness but rather a necessary phase in the maturation of the current cycle.
Long-Term Outlook Remains Strong Despite Short-Term Caution
While EGRAG CRYPTO’s short-term prediction is bearish, his overall stance on XRP remains firmly bullish. He emphasizes that any decline toward $1.24 should be viewed as a strategic accumulation opportunity rather than a reason to exit positions.
In previous analyses, he projected a long-term price target of $27 for XRP, driven by increasing adoption, real-world utility through Ripple’s payment solutions, and potential approval of spot ETFs in major markets. This ambitious target aligns with broader expectations within the crypto community about XRP’s upside potential once regulatory clarity improves.
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Why Panic Selling Is Not the Answer
One of the most valuable aspects of EGRAG’s message is his advice against emotional trading decisions. He explicitly discourages panic selling or attempting to time the bottom by exiting and re-entering later. Such strategies often lead to missed opportunities and increased transaction costs.
Instead, he advocates for disciplined accumulation during periods of weakness. For long-term investors, dips like the one predicted offer a chance to increase holdings at more favorable valuations. Dollar-cost averaging (DCA) into XRP around the $1.24–$1.50 range could position investors well for the anticipated next bull run.
Key Takeaways:
- Avoid emotional reactions to short-term volatility
- Focus on long-term fundamentals over daily price swings
- Use technical levels like $1.24 as reference points for entry
- Maintain a diversified portfolio while adding selectively to high-conviction assets
Recent Developments Supporting XRP’s Bull Case
Despite the predicted correction, several positive catalysts continue to support XRP’s long-term trajectory:
- ProShares SEC Approval: On April 30, ProShares received SEC approval to launch three XRP Futures ETFs, signaling growing institutional acceptance.
- Hashdex Spot ETF Launch: Brazil-based crypto asset manager Hashdex recently launched the first XRP Spot ETF, expanding access for global investors.
- Ripple’s Ongoing Expansion: Ripple continues to integrate XRP into cross-border payment networks, enhancing its real-world utility.
These developments reflect a maturing ecosystem and suggest that underlying demand for XRP remains robust—even during periods of price consolidation.
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- XRP $1.24 target
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- XRP accumulation strategy
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- XRP correction 2025
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Frequently Asked Questions (FAQ)
Q: Is EGRAG CRYPTO usually bullish or bearish on XRP?
A: EGRAG CRYPTO is known for his predominantly bullish stance on XRP. His short-term bearish warning is notable precisely because it comes from a typically optimistic analyst, adding credibility to the caution.
Q: What does trading below the bull market support band mean?
A: When an asset trades below its bull market support band for an extended period, it indicates weakening momentum and increases the likelihood of a deeper correction before the trend resumes.
Q: Why is $1.24 considered a strong support level?
A: The $1.24 zone corresponds to a major breakout point from November 2024, which initiated XRP’s rally to $3.40. Retesting this level can confirm prior strength and set up a sustainable rebound.
Q: Should I sell my XRP if it drops to $1.24?
A: According to EGRAG CRYPTO, selling during the dip is not advisable. Instead, he recommends viewing it as an opportunity to accumulate more XRP at lower prices for long-term growth.
Q: What are the upcoming catalysts for XRP in 2025?
A: Key catalysts include potential spot ETF approvals in major markets, expanded use of XRP in Ripple’s payment networks, and growing global adoption through new financial partnerships.
Q: How reliable are Fibonacci retracement levels in crypto trading?
A: While not infallible, Fibonacci levels are widely watched by traders and often coincide with turning points due to their self-fulfilling nature in high-volume markets like crypto.