Market analyst Egrag Crypto has tipped XRP to fall to $1.25 in the short term, barring a specific price development. Despite a bullish trading week, which saw the altcoin trade at $2.29, the market expert explains that XRP is yet to confirm a market bottom, indicating the potential of a future price fall.
Crucial Times Ahead: XRP Must Break $2.33–$2.45 To Invalidate Bearish Forecast
In an X post on April 26, Egrag Crypto shared a bearish forecast on the XRP market, suggesting a potential downswing lies on the horizon. Based on the technical analysis of the XRP trading chart, altcoin appears to be trading below the Bull Market Support Band despite recent gains due to the extensive price correction in Q1 2025.
For context, the Bull Market Support Band is a price zone formed from two moving averages to help traders detect whether an asset remains in a bull market or not. When prices fall below this support band, it often signals a bear market risk.
For XRP to invalidate this negative forecast, the fourth-largest cryptocurrency must close above $2.33, which represents the immediate resistance level. Importantly, XRP must reclaim the $2.45, which currently acts as the upper edge of the Bull Market Support Band.
Achieving a decisive close above both critical price levels would signal a strong market demand and reduce fear of a larger price correction. However, if XRP fails to break above this band soon, the 0.702 Fibonacci level around $1.25 becomes a likely potential target.
Egrag Crypto explains that this Fibonacci level aligns with the previous breakout structure, thus making it a strong historical support. However, a price fall to $1.25 would only constitute a major retest, which could reinforce the long-term bullish structure of the XRP market.
XRP Price Overview
At the time of writing, XRP trades at $2.18, reflecting a decline of 0.78% in the last day. The prominent altcoin is also down 5.08% on the monthly chart, indicating that bearish pressures are still strong in the market.
According to data from Coincodex, market sentiment currently remains neutral, with investors still uncertain of XRP’s future. Notably, only 40% of XRP’s last 30 trading days have been profitable.
Interestingly, Coincodex analysts expect the asset to retain its recent bullish form in the short term to potentially trade at $2.50 in five days. However, they remain highly bearish on long-term prospects, projecting a price of $1.97 in one month and $1.65 in three months.
