An analysis from expert EGRAG CRYPTO indicates XRP is approaching a key point that could affect its price trajectory through 2025.
Technical Analysis of XRP by EGRAG CRYPTO
EGRAG CRYPTO’s latest technical assessment reveals that XRP needs to breach and maintain a position above $4 on weekly timeframes before March 10, 2025, to maintain its bullish momentum. This critical price point corresponds with Fork C, part of a broader Bent Fork technical formation that has historically served as a formidable resistance zone.
Historical Data and Its Significance
Historical data lends credence to EGRAG CRYPTO’s concerns. His research indicates that encounters with similar resistance levels have preceded significant market corrections over the past decade. Previous instances resulted in substantial price declines, including an 89.59% drop in December 2015, followed by corrections of 68.97% in May 2017, 64.35% in September 2018, and 73.39% in April 2021.
Likelihood of Price Drop to $1
The timing of this technical challenge is significant, as it precedes a lunar eclipse scheduled for March 14, 2025. EGRAG CRYPTO’s analysis suggests a historical correlation between lunar events and increased market volatility, often accompanied by downward price pressure.
Despite market uncertainty, EGRAG CRYPTO maintains an optimistic long-term outlook. Breaching the $3.9 level could set it on the path to the $15 target.
