Crypto analyst Egrag Crypto has provided an update on the price action of XRP, emphasizing the continuation of an inverse head and shoulders pattern.
In a tweet, he noted that a close above $2.24, which aligns with the Fibonacci 0.888 level, is the next short-term target. His analysis suggests that XRP remains on track for higher prices, corroborating his previous predictions.
#XRP Inverse Head & Shoulders (Update):
A close above $2.24 (Fib 0.888) is our next minor target!
The pattern is still unfolding as anticipated.#XRPFamily STAY STEADY AND STRONG, Together We Rise!
https://t.co/p7Mqk0hrOp pic.twitter.com/52Q7KKn6Kp
— EGRAG CRYPTO (@egragcrypto) March 30, 2025
Inverse Head and Shoulders Pattern in Focus
The chart shared in the update visually represents the inverse head and shoulders formation, a well-known technical pattern traders often associate with bullish reversals.
This structure consists of three troughs, the middle one (head) being lower than the other two (shoulders), and a breakout above the neckline indicating potential upward movement. In Egrag Crypto’s view, the price is progressing as expected, maintaining its position within a broader upward channel.
Projected Price Levels and Key Resistance Zones
The analyst previously projected a measured move between $3.7 and $3.9, backing his bullish stance on XRP. His chart highlights key levels, including the $2.00 support, the $2.65 mid-range target, and the upper boundary at approximately $4.60. The outlined trajectory suggests that if XRP maintains momentum and surpasses the $2.24 Fibonacci level, the next major resistance could align with the $3.28 region.
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Potential Breakout Timing and Market Sentiment
The technical outlook presented in the chart also marks a significant date, April 20, where a potential breakout scenario is highlighted.
While this does not guarantee a price surge on that specific day, it indicates a key moment in the unfolding pattern. The image also emphasizes the filling of a fair value gap, which could contribute to a more stable price foundation for further upward movement.
Community Reactions and Market Expectations
Community reactions to Egrag Crypto’s analysis varied, with some expressing optimism while others speculated on a possible price pullback before further gains. One user, Revolution XChange, commented that they were hoping for a price drop to $1.85, suggesting that such a dip would offer a buying opportunity before a potential rally.
Egrag Crypto’s analysis focuses on the larger technical picture, suggesting that XRP’s market structure remains intact for a potential move toward higher price targets. While past predictions in the crypto space do not guarantee future outcomes, the chart and Fibonacci levels provide a structured approach to understanding price action.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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