Crypto analyst Egrag Crypto has revealed that the XRP price has completed its bearish retest, following the recent decline below the $2 level. The altcoin is now eyeing a bullish reversal, and the analyst has predicted that it could rally to as high as $2.65.
XRP Price Eyes $2.65 Following Completion of Bearish Retest
In an X post, Egrag Crypto stated that the key breakout zones are the narrow range between $2.30 and $2.33 and the macro signaling level at $2.65. This came as the analyst indicated that the XRP price has completed its retest of the $1.90 and $2 range, which he had earlier predicted.
Commenting on the current XRP price action, Egrag Crypto stated that the next move depends on whether the altcoin breaks above $2.08. If not, he warned that XRP could again retest the lows around $1.9. On the other hand, if it closes above $2.08 within the first 12 hours, along with daily and higher timeframes candles closure, then it would signal that “bulls are stepping in aggressively.”
A successful close above this level could trigger a rally to these breakout zones at the narrow range between $2.30 and $2.33 and the macro signaling level at $2.65. Egrag Crypto indicated $2.65 was the level that could pave the way for a massive surge to a new high. His accompanying chart showed that $3.4 is a level of interest for the XRP price if it reclaims $2.65.
This Is The Final Shakeout For XRP
In an X post, crypto analyst CasiTrades provided a bullish outlook for the XRP price, declaring that this recent decline is not a failure but the final shakeout. She remarked that XRP is delivering the price action she has been looking for. This includes the bullish divergence, which formed following the altcoin’s decline to the $1.90 level.
CasiTrades drew attention to the Bitcoin price action, which she said has built her confidence in the XRP price bullish setup. She claimed that BTC is showing the same structure as the altcoin. Over the past week, the flagship crypto approached its major .236 retracement near $97,000. BTC came shy of this level, bounced back, and now looks ready for that final sweep to support.
The analyst affirmed that there will be a heavy confluence if BTC tags that level while XRP hits $1.90. CasiTrades mentioned that both assets are showing this same “almost hit, bounce, final drop” behavior and that it is no coincidence. She claimed that the markets do this all the time when looking for fuel to launch a reversal. If the XRP price holds $1.90 and BTC reacts at $97,000, she declared that it is the kind of stacked signal the market has waited weeks for.
At the time of writing, the XRP price is trading at around $2, down over 3% in the last 24 hours, according to data from CoinMarketCap.
