2025-3-16 21:30 |
A popular cryptocurrency analyst has outlined three potential scenarios for XRP price movement as the digital asset shows significant strength in the market. The analysis comes as XRP dominance approaches record levels, potentially signaling a major shift in the cryptocurrency landscape.
EGRAG CRYPTO explains that the “Blue Channel” pattern is providing clear indications of XRP’s next move. The analyst notes that equilibrium has been established on the lower edge of this channel, resulting in a mini bounce that was previously predicted.
For the short term, EGRAG outlines three distinct scenarios that could unfold:
Optimistic OutlookIn the bullish scenario, XRP needs to close above $2.83 today to demonstrate macro strength. Achieving this level could open the path toward a $4.20 target.
The analyst suggests that these targets may rise further over time, strengthening the case for bulls.
Conservative ApproachThe second scenario presents a more measured view. EGRAG notes the possibility that XRP may retest the Previous Daily Low (PDL), which aligns with the Fibonacci 0.888 level—a zone of strong support. A sustained break below this level for three or more days could indicate persistent bearish control.
However, if support holds, investors should monitor several key levels: the Previous Daily High at $2.40, Previous Weekly High at $2.97, and Previous Monthly High at $3.07. According to the analyst, higher closing prices would provide increased structural confidence.
Read Also: XRP Price Flashes ‘Sell’ Signal as Lawyer Has a Big Update on Ripple vs SEC Case
Pessimistic ScenarioIn the bearish case, a break below both the Fibonacci 0.888 level and the PDL could trigger a decline toward the Fibonacci 0.786 level and potentially fill the Fair Value Gap. Interestingly, EGRAG suggests this could actually be a bear trap and false break from the Blue Channel, possibly coinciding with Bitcoin retesting the $70,000 level.
The analyst believes such a development could present “another generational buying opportunity.” However, sustained breaks below these levels might indicate an unrecognized bear market affecting the entire crypto space.
XRP Dominance Shows Remarkable StrengthEGRAG CRYPTO also highlights XRP’s increasing market dominance, which is approaching the 2021 high of 6% and surpassing the Fibonacci 0.5 level. The analyst considers this a “critical level” and an extremely bullish sign once confirmed.
If XRP dominance successfully closes above the Fibonacci 0.5 level, a surge toward the Fibonacci 0.888 level could follow, potentially reaching 15-20% market dominance. This would align with historical highs from 2015.
The analyst emphasizes this isn’t mere speculation, noting that XRP’s position as the leading protocol for transferring value over the internet with 31% dominance “is only the beginning” of its potential growth trajectory.
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