EGRAG Crypto: XRP Still in Long-Term Accumulation — Monthly Breakout Targets $2.60
Technical analyst EGRAG Crypto says XRP is in a disciplined, long-term accumulation phase after roughly 13 months of consolidation above the $2 psychological level on the monthly chart. Despite current spot trading near $1.87, EGRAG emphasizes monthly candle closes and higher-timeframe structure over intraday volatility. He highlights an ascending diagonal trendline — dubbed the “Bifrost Bridge” — that has acted as multi-cycle support and remains intact, supporting the macro bullish structure. A confirmed monthly breakout above local resistance could open a move toward $2.60, a level derived from historical price interactions. EGRAG frames the outlook as conditional: confirmation via monthly close is required before validating the bullish scenario. The piece does not offer financial advice and urges readers to conduct independent research.
Bullish
EGRAG Crypto’s analysis emphasizes structural support and long-term accumulation rather than distribution, citing a 13-month consolidation above the $2 psychological level and a multi-cycle ascending trendline (“Bifrost Bridge”). These factors historically precede expansion phases for XRP, and a confirmed monthly close above local resistance would be a clear technical trigger toward the cited $2.60 target. For traders, this implies a conditional bullish setup: momentum and entries should be assessed around monthly closes and reaction to the diagonal support. Short-term volatility remains likely and could create false-break risks, so risk management (tight stops or position scaling) is prudent. In past cycles, prolonged accumulation above key psychological/support levels followed by a decisive higher-timeframe close has led to significant rallies; if that pattern repeats, long-term holders and swing traders could benefit. Conversely, a monthly close below the Bifrost trendline would invalidate the bullish thesis and could shift sentiment to neutral or bearish. Overall, the article points to a bullish bias conditional on higher-timeframe confirmation, with neutral-to-choppy short-term price action expected.