The monthly XRP chart has entered a decisive phase, with prominent analyst Egrag Crypto outlining a clear roadmap for the cryptocurrency's future. According to his technical analysis, XRP is trading around $2.20, just above a key Fibonacci support level, with the monthly candle close being crucial.
Egrag identified $2.60 as a critical bullish level, corresponding to the 0.5 Fibonacci retracement. A close above this would maintain bullish momentum, while a breakout above $3.40 (the 0.888 Fib level) could confirm a super-bullish macro breakout, potentially leading to new all-time highs. Conversely, a close below the 21-month EMA around $1.83-$1.90 would signal a severe breakdown of the bullish structure.
Additionally, Egrag highlighted a massive multi-year triangle pattern dating back to 2017, defined by a descending resistance line and the 'Line of Hestia' support. Breakout zones include $5.5 (first resistance), $13 (macro breakout), and $27 (full extension). He outlined two paths: a bullish retest of support or a direct breakout, emphasizing patience for strategic traders.
In a significant development, 21Shares confirmed SEC approval for its US Spot XRP ETF (ticker TOXR), set to launch on Monday. This institutional participation could reinforce bullish scenarios, especially if XRP crosses $2.60 in December, aligning with Egrag's analysis of compressed price action nearing a major trend release.
ZKP
XLM
LTC
ZEC
SHIB