XRP rebounds after $19-month low, analyst warns more correction
XRP is rebounding after a sharp selloff that pushed it to about $1.05, the first time in roughly 19 months. The token quickly recovered toward $1.20 earlier today but met renewed selling pressure. At the time of writing, XRP trades around $1.13, up about 5% on the day and reclaiming some key support levels.
Despite the rebound, analyst EGRAG CRYPTO says the broader structure still looks unfavorable for bulls in the short term. He argues XRP may still be in the final stages of a deeper correction before a “macro” rally can begin. EGRAG points to a recurring higher-timeframe pattern involving the 50 EMA and 100 EMA on monthly charts: historically, when XRP decisively loses the 50 EMA, momentum fades, price breaks down, capitulation follows, and a final liquidity sweep often targets the 100 EMA.
If that historical sequence repeats, XRP could face additional downside before completing a “capitulation phase.” The analyst emphasizes that traders should avoid trying to catch the exact bottom and instead focus on position building, liquidity management, and probability zones. Macro targets discussed range from single digits (around $7–$8) to higher levels, including mid-double digits, but only after the correction and liquidation cycle play out.
For traders, the takeaway is clear: XRP’s bounce looks constructive, yet EGRAG CRYPTO’s framework suggests risk of another leg lower before the next sustained uptrend.
Neutral
The news is mixed. On one hand, XRP’s rebound from the ~$1.05 multi-year low and the reclaiming of some support levels are short-term supportive, suggesting dip-buying and momentum stabilization. On the other hand, the core message from EGRAG CRYPTO is that the rebound may only be part of a larger correction.
EGRAG’s historical template (monthly 50 EMA loss leading to fading momentum, breakdown, capitulation, then a liquidity sweep toward the 100 EMA) implies that traders may see whipsaws: rallies can be sold into until the market completes the “capitulation phase.” Similar patterns in past crypto cycles often produced temporary bounces followed by another leg lower before a more durable trend reversal.
For trading implications, this can mean:
- Short term: higher volatility and potential rejection near resistance levels around the recent bounce high (~$1.20), with downside risk if XRP fails to reclaim and hold key moving-average structure.
- Long term: the eventual macro upside targets (single digits to higher) become more credible only after the correction and liquidity-sweep phase conclude.
Overall, the article does not confirm a new bull phase; it frames XRP’s rebound as possibly corrective. Hence, the expected impact is neutral: supportive near-term, but with meaningful risk of another downturn.