Crypto analyst Egrag Crypto has shared a new technical analysis of XRP, suggesting the potential formation of an inverse head and shoulders pattern. As indicated, this pattern, often considered a bullish reversal signal, has led to price targets between $3.7 and $3.9.
#XRP – Most Probably Inverse Head & Shoulder:
Measured Move is $3.7-$3.9.
Let Us Wait and See pic.twitter.com/cd1UscX5mh
— EGRAG CRYPTO (@egragcrypto) March 28, 2025
Key Price Levels and Market Structure
The chart accompanying Egrag Crypto’s analysis shows a well-defined ascending channel where XRP has been trading. The inverse head and shoulders pattern is clearly illustrated, with the left shoulder, head, and right shoulder marked.
The neckline, a crucial level in confirming the pattern, appears to align with a potential breakout target of approximately $2.97. If this pattern plays out as expected, the projected price movement could reach the $3.7-$3.9 range. Additionally, a broader price target of $4.60 is noted at the upper boundary of the ascending channel.
Other key levels on the chart include support at approximately $2.10 and a Fibonacci retracement level around $2.23. These areas may serve as important reference points for traders watching for confirmation of the pattern. Egrag Crypto’s analysis also points to a previously filled fair value gap, suggesting that XRP has completed an essential technical step before making a potential move upward.
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Current Market Conditions
According to the chart, XRP is currently trading at around $2.25. The near-term movement will be crucial in determining whether the inverse head and shoulders pattern fully forms and leads to a breakout. Market participants are likely watching for a sustained move above the neckline to confirm the pattern’s validity.
Community Reactions
Following Egrag Crypto’s post, some users shared their thoughts on the market outlook. One user, XRPinit, mentioned recently purchasing XRP with spare cash and intending to use it while traveling in Sri Lanka. However, they noted that XRP had pulled back after their purchase.
Another user, Preston, expressed concern about the prolonged price action, stating that they have been holding since May 2020. They acknowledged selling some of their holdings when XRP previously reached $3.40 but noted that they have been repurchasing since then.
Egrag Crypto’s analysis provides a structured technical outlook for XRP, suggesting the possibility of a bullish breakout if key levels hold. The next steps for XRP will depend on whether the market confirms the inverse head and shoulders pattern, with traders closely monitoring price movements around the $2.97 level.
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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