XRP’s Face-Melting Phase: The Numbers Say Price Is Headed Above $10

XRP’s price action has comesellers still controlling short-term momentum. 

The decline has placed XRP directly inside a notable zone on the monthly candlestick long-term chart. Particularly, technical analysis done by crypto analyst EGRAG CRYPTO indicates that XRP may still face one more liquidity sweep before a much larger move above $10.

XRP In Face-Melting Phase

EGRAG’s analysisfinal liquidity sweep into the 100 EMA before the next rally kicks off again.

That model is important because XRP’s current monthly candle has already opened the current weekly candlestick below the 50 EMA, placing the price action in a fragile position. This positions XRP in a face-melting phase where it has a possibility of falling to the 100 EMA, while the market continues searching for its true macro bottom. The analyst’s projected path leaves room for more downside first, with the chart pointing to a possible crash below $1.

However, one of the more counterintuitive dimensions of EGRAG CRYPTO’s analysis is what he does while anticipating further downside. Rather than waiting for a confirmed reversal, the analyst is actively building a position across a range of entry prices at $1.09, $0.92, $0.85, and even $0.70, treating each level as a probability zone.

The Numbers Say XRP Is Headed Above $10

Another interesting part of the analysis is not the possible move lower, but the upside numbers that follow it. EGRAG’s chart shows a major recovery path out of the current support range and into a break above the current cycle high at $3.65. The projections show upside levels highlighted at $9, $13, $17, $20, and $27. 

EGRAG’s point is that the exact bottom may matter less if XRP eventually reaches these projected bullish targets. Risk management matters more than will not matter when XRP reaches those high targets.

At the time of writing, XRP is trading at $1.14, down by 12% in the past seven days. A move from the current $1.14 price to $10 would require a rally of about 777%. A climb to $13 would represent a gain of more than 1,040%. Lastly, a rally to the $27 level on the chart would require XRP to rise by more than 2,260% from the current range.