Crypto analyst Egrag Crypto has released an update on XRP's price projections, highlighting Fibonacci extensions and full-body candle confirmations.
XRP’s Strength and Bullish Confirmation
The updated analysis highlights XRP's resilience, noting that the asset has maintained full-body closes above the Fibonacci 1.0 level for three consecutive months. This is seen as a strong bullish signal. The absence of significant resistance at the Fibonacci 1.236 level indicates potential for further upward movement. Projections suggest a potential price range of $5 to $6 in the near term, with spikes possibly reaching $9 or $10.
Market Scenarios and Cycle Considerations
Egrag outlines multiple scenarios depending on market timing. If the anticipated price surge occurs before May, a correction might follow before continuing the upward trend. If it happens toward the end of summer or in Q4, it could indicate a cycle top. These observations support the four-year cycle theory of XRP's price movements.
Revisiting the Bermuda Triangle Framework
This update builds upon the January 2025 analysis where the 'Bermuda Triangle' framework was introduced. This structure includes Fibonacci Circle targets, critical support levels, and long-term market patterns. Previous analyses highlighted important technical elements like the Atlas Line's role in maintaining XRP's price stability.
Egrag Crypto's updated analysis reaffirms positive prospects for XRP, relying on key indicators and Fibonacci strategies. Nevertheless, it's crucial for investors to conduct their own research.
