- XRP price approaches $2.06 support zone, a level that previously acted as a strong floor during earlier periods of high market volatility.
- EGRAG CRYPTO’s analysis shows a projected rebound from $2.06, with potential upside targeting $2.65–$2.75 if volume supports the breakout.
- XRP traders are watching $2.00 and $1.91 closely as key levels that could shift the market cycle.
XRP plunges to $2.23 after its weekly losses of over 21%. As price nears key support at $2.06, traders are at a crossroad, a potential rebound—or deeper downside ahead.
XRP Testing Key Support as Price Consolidates
Popular analyst EGRAG CRYPTO shared a chart showing the asset trading near $2.217 after facing continued selling pressure. However the setup indicates a possible short-term reversal if support holds.
$2.06 has acted as a reliable support floor in previous attempts. The chart suggests that XRP may dip into this zone before attempting a recovery. If price remains above this area, traders may view it as a strong entry point.
Above current levels, the green resistance band between $2.65 and $2.75 remains a challenge. This zone previously marked the top during a rally. If momentum builds and price breaks this range, further upside toward earlier highs could be possible.
Chart Structure Points to Liquidity Grab and Wick Fill
EGRAG CRYPTO, further explained that the Gemini chart is being used due to its alignment with earlier breakout structures. According to the analysis, current moves appear to be part of a liquidity grab, filling previous wicks.
EGRAG noted that risk-on assets may see sharp moves ahead. He added that gold has behaved like a meme coin recently, and risk assets could soon follow that path with stronger momentum.
Measured Move and Cycle Concerns Shared by Analyst
In a follow-up post, EGRAG CRYPTO detailed a measured move scenario, targeting $2.14 based on a descending triangle formation. While price hasn’t broken that level, the range between $2.40 and $2.60 remains active.
The analyst emphasized stating that a clean break may shift targets between $2.40 and $2.50. However, he warned of deeper concerns if XRP closes below $2.00 or $1.91 on the 3-day chart.
A close below these levels may signal weakness in the broader cycle, possibly putting the $3.65 cycle top into question. Traders are now closely watching for confirmation of either a bullish bounce or a breakdown from the current range.
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