Although the cryptocurrency market is still trying to decide between moving up or down, XRP is no exception as it’s once again standing at a critical inflection point, and the coming days could determine whether the token rockets to an all-time high (ATH) or slips further down.
Specifically, popular crypto chartist Egrag Crypto has pointed at $2.65 as the line in the sand, urging to “hold the line” and referring to it as the final support before XRP can mount a rally that could eventually carry it toward $3.65 or even higher, in an X post on September 1.
On the daily chart, XRP has been pressing against long-term resistance while simultaneously defending crucial supports. Despite sharp sell-offs, Egrag Crypto has stressed that structurally, XRP’s bullish case remains intact. As he explained, dismissing fears of a broken bull cycle:
“Did we lose any body candle structures? No. Did we fall below any Fibonacci targets? No. Did we drop under the 21 EMA on the monthly timeframe? No. Unless we see all of the above happen, I refuse to declare that the bull run has ended!”
Other analysts share similar optimism. Fellow crypto expert Ali Martinez highlighted that a successful defense of $2.70 followed by a clean break above $2.90 would open the path toward $3.70, confirming momentum for another leg up, especially as whales have accumulated 340 million XRP in two weeks.
For the time being, the currently fourth-largest asset in the crypto market is trading at $2.78, which means it’s down 1.17% on the day, declining 4.94% across the week, and accumulating a 5.31% drop on its monthly chart, per the latest price information.
All things considered, all eyes are on this pivotal zone. If XRP defends its support and pushes through resistance, the long-anticipated journey to new highs could finally begin and XRP could either skyrocket to surpass the previous record price of $3.65 or slump further down.
What do you think?
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