Crypto market analyst EGRAG Crypto has presented a detailed analysis suggesting that XRP could face significant price retracements in a future bear market.
Symmetrical Triangle and Its Significance
EGRAG Crypto based his projections on historical price cycles and chart structures, particularly the symmetrical triangle formation on the long-term XRP/USD chart. The analysis references two possible cycles with price targets derived from measured moves and historical percentage declines observed in previous market phases. The symmetrical triangle spans multiple years, bounded by what he terms the 'Line of Hestia' as the lower support line and the 'Troposphere' as the upper resistance.
Cycle 1 Projection: $27 Peak and $0.80 Low
The first scenario, referred to as Cycle 1, projects a potential XRP price peak of $27. This target is derived from the measured move of the symmetrical triangle. Should XRP reach this speculative high and history repeats with a similar 97% retracement, the potential bear market low would be approximately $0.80. This scenario aligns with past cycles and indicates that such declines are not unprecedented.
Cycle 2 Projection: $9 Peak and $1.30 Low
A second, more conservative scenario, Cycle 2, uses the midpoint of the symmetrical triangle’s range for a more moderate target of $9. If XRP reaches that value and subsequently falls by around 85%, the estimated post-peak retracement would place it near $1.30. This outlook mirrors less extreme pullbacks seen in other altcoin corrections, preparing for a retracement but with less downside compared to the first cycle.
EGRAG emphasizes that XRP is likely approaching its final leg upward before entering a bear market phase. He cautions followers not to dismiss cyclical behavior, underscoring the importance of historical patterns. The analysis serves as an educational resource and not as financial advice.
