Crypto analyst Egrag Crypto recently shared an in-depth analysis of XRP’s price action, referring to its current market phase as the “Kangaroo Phase.”
The analyst post highlights XRP’s critical support levels, Fibonacci retracement zones, and potential future price targets. The captioned chart illustrates a long-term trend, drawing comparisons to XRP’s historic 2017 price movement.
#XRP – Kangaroo Phase
#XRP is gearing up for its next big leap! Here’s why:
Holding above critical support trend level
— EGRAG CRYPTO (@egragcrypto) March 5, 2025
XRP’s Current Market Position
Egrag Crypto emphasizes that XRP is holding above a key support trend level. He notes that the asset has successfully retested the Bull Market Support Band, an important technical indicator that suggests continued strength. He also highlights XRP’s position above the Fibonacci 0.888 level, indicating a significant consolidation zone.
In his analysis, Egrag Crypto identifies a macro consolidation range between the Fibonacci 1.0 level at $3.37 and the Fibonacci 0.888 level at $2.30. He describes this as an area of price stabilization, with short-term fluctuations between $3.40 and $2.00. This period of consolidation is seen as a precursor to the next major breakout.
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Potential Price Targets for XRP
According to Egrag Crypto, XRP’s next major upward move could target the Fibonacci 1.272 level at $8.5 and the Fibonacci 1.414 level at $13. These price targets align with historical Fibonacci extension levels that have played a key role in past market cycles.
Beyond these targets, he also points to the Fibonacci 1.618 level, which indicates a potential price of $27 or higher. This suggests that if XRP follows a similar trajectory to its 2017 cycle, it could experience a significant price rally.
Historical Comparisons and Market Cap Concerns
Egrag Crypto draws parallels between XRP’s current market structure and its performance in 2017. He notes that XRP followed a Fibonacci extension pattern during the previous cycle, initially reaching the 1.618 level before consolidating and later surging to the Fibonacci 2.236 level. If this historical trend repeats, XRP could hit a price range of $27 to $222, based on Fibonacci projections.
Anticipating skepticism regarding XRP’s market capitalization, Egrag Crypto dismisses concerns, arguing that market cap is a flawed metric when evaluating utility-driven assets. His stance suggests that traditional market cap calculations may not fully account for XRP’s potential adoption and real-world use cases.
Long-Term Perspective for Investors
Egrag Crypto concludes his analysis by emphasizing the historical advantage of long-term holding strategies over short-term trading. He asserts that long-term holders outperformed active traders in previous market cycles. He encourages skeptics to research this pattern further, even referencing macro investor Raoul Pal for additional insights on long-term crypto investment strategies.
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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