Crypto analyst Egrag Crypto says XRP could be setting up for a dramatic rebound — but first, the token may need to fall further to find a definitive bottom.
Key takeaway
- Egrag sees a nearly nine-month falling-wedge on XRP’s chart. The token is trading around $1.30 and may drop toward about $0.83 before a larger reversal that could ultimately target $8.30.
What’s happening with XRP now
- XRP has logged six straight months of losses — its worst run since 2014 — and April opened down about 1.8%. If April closes red, it would be the seventh consecutive monthly loss, a first in the token’s history.
- The token peaked at $3.60 in July 2025 and has since been squeezed between two downward-sloping trendlines. That back-and-forth compression is what forms the falling-wedge pattern Egrag highlights.
The wedge and the trade setup
- Upper resistance: Egrag places the wedge’s ceiling near $1.80. Historically that region has capped rallies; earlier this year, XRP topped around $2.41 in January 2026 and then pulled back.
- Lower support: The analyst identifies a confluence around $0.83 where the wedge’s lower trendline meets a long-term ascending “Atlas Line.” This is called the major floor for the current structure.
How a rebound could play out (per the analysis)
- First, a rebound toward the $1.80 resistance is possible. If that fails and price follows the wedge, XRP could slide to roughly $0.83.
- From the $0.83 area, the chart suggests a bounce back above $1.00, a retest near $0.91, and then the start of a larger upward move. If that breakout sequence materializes, Egrag’s target is roughly $8.30.
Past action that supports the pattern
- The wedge has already absorbed big swings: on Oct. 10, 2025, XRP fell from about $2.80 to $1.36 and bounced off the lower trendline; in early Feb. 2026 it dropped to $1.11 before support held.
Risks — what would invalidate the setup
- Bullish invalidation: a monthly close above $1.80 would break the wedge and kill this specific bearish-to-bullish setup.
- Bearish invalidation: a decisive break below the $0.83–$0.91 support zone would point to deeper weakness and raise the prospect of a larger downside than the pattern projects.
Bottom line
Egrag’s view frames the current weakness as a potential buying opportunity if XRP finds support around the Atlas Line near $0.83 and follows the retest-and-run script. But traders should watch the two trigger levels — a monthly close above $1.80 to invalidate the wedge, or a break below the $0.83–$0.91 zone to signal further trouble.
Source: Egrag Crypto chart; featured image from Pexels, chart from TradingView.
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