Market analyst Egrag Crypto has issued a detailed technical analysis for XRP, identifying a critical "exit candle" that could signal the next major move for investors as the token confirms a price breakdown. The analyst shared a chart on social media platform X, warning that if XRP declines another 50-60%, the subsequent price pump should be considered the next exit opportunity for traders.
Egrag Crypto emphasized a long-term holding strategy for his own XRP, stating he will not sell even if prices fall below $1, unless the token breaks below a key blue support channel on his chart. He noted that XRP's market structure could soon challenge bearish sentiment, potentially forcing panic exits. The analyst also pointed to external regulatory risks, specifically highlighting the possibility of former U.S. President Donald Trump appointing Kevin Warsh as the new Federal Reserve Chair, replacing Jay Clayton, which he said could worsen market conditions and accelerate downside pressure.
In a related update, the analyst confirmed the XRP breakdown and executed a swing trade, purchasing XRP at $1.28 after a three-year wait. His plan outlines key price levels to watch: a reclaim of $1.85 could target a move toward $2.20, while a confirmed close above $2.50 would necessitate a trend reassessment. Conversely, a drop below $1.28 could signal further declines toward $1.57 or lower.
Throughout his analysis, Egrag Crypto stressed the importance of market discipline and emotional strategy, comparing crypto trading to competitive sports that require skill, preparation, and patience. He advised traders to manage emotional and financial resources carefully, step away when needed, and avoid letting any asset dominate their emotional state.
