Crypto analyst Egrag Crypto has stated that XRP has completed its bearish retest after dipping below $2. The altcoin now aims for a bullish reversal, potentially rising to $2.65.
In a post on X, Egrag Crypto highlighted key breakout zones between $2.30 and $2.33, with the macro signaling level at $2.65. He noted XRP’s recent retest of the $1.90 and $2 levels, which he had previously forecasted.
The analyst explained that XRP’s next move hinges on breaking above $2.08. A failure to do so may lead to another test of support near $1.90. Conversely, closing above $2.08 within the first 12 hours, along with daily and higher timeframe candle closures, would indicate strong bullish momentum.
A successful close above $2.08 could spark a rally toward the breakout range and $2.65, a level that may open the door for a surge toward $3.40, according to Egrag Crypto’s chart.
Another analyst, CasiTrades, shared a bullish perspective, describing the recent decline as a final shakeout rather than a failure. She pointed to a bullish divergence formed near the $1.90 mark and drew parallels with Bitcoin’s price action, which has approached a key retracement level near $97,000 before bouncing back.
CasiTrades emphasized that XRP and Bitcoin exhibit similar patterns of an “almost hit, bounce, final drop,” which often precedes reversals. She suggested that if XRP holds $1.90 and Bitcoin responds at $97,000, it would create a strong combined signal supporting a potential upward move.
At the time of writing, XRP trades near $2, down over 3% in the last 24 hours according to CoinMarketCap.