The price outlook for XRP has taken a surprising turn, as one of its most vocal supporters, EGRAG CRYPTO, has issued a short-term bearish forecast. Known for his consistent bullish sentiment on XRP, EGRAG’s latest analysis has sparked attention across the cryptocurrency community. In a recent post on the social platform X (formerly Twitter), the analyst warned that current market dynamics could push XRP toward a significant correction before any substantial recovery takes shape.
Short-Term Bearish Signal: XRP Eyes $1.24 Drop
EGRAG CRYPTO’s technical assessment suggests that XRP may be heading for a sharp downturn in the near term. Supporting his claim, he shared a detailed chart illustrating XRP’s position within the broader bull market framework. The data reveals that XRP has been trading below the critical bull market support band for over a month—since its breakdown in mid-March. This prolonged period beneath the support level increases the likelihood of a deeper retracement.
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The analyst emphasized that XRP has repeatedly failed to reclaim key resistance levels at $2.33 and $2.45 on the daily chart—levels that align with the upper boundary of the bull market support band. As long as price action remains below these thresholds, downward pressure could persist, potentially driving XRP toward the 0.702 Fibonacci extension level.
Key Resistance Zones Hold Back Momentum
Resistance at $2.33 and $2.45 has proven difficult to breach, acting as strong psychological and technical barriers. With selling pressure outweighing buying momentum, bears may continue to dominate in the short term. EGRAG CRYPTO highlighted that this consolidation phase could culminate in a test of the $1.24 support zone—the current value of the 0.702 Fib level.
Interestingly, the $1.24 level is not just a random figure—it previously served as a breakout point in November 2024, launching XRP’s rally toward $3.40. A retest of this zone could validate the strength of that earlier move and lay the foundation for a more durable upward trend in the future.
Why a Dip Could Fuel a Stronger Rally
While a drop to $1.24 may concern some investors, EGRAG CRYPTO views it as a potential catalyst for long-term gains. Market corrections often serve to shake out weak hands and consolidate holdings among committed investors, creating healthier conditions for the next leg up.
Historically, major cryptocurrencies have experienced deep pullbacks before entering parabolic phases. If XRP revisits $1.24 and holds that level as support, it could trigger renewed institutional and retail interest—especially if accompanied by positive regulatory developments or product launches.
Long-Term Forecast: $27 Price Target on Horizon
Despite the anticipated short-term decline, EGRAG CRYPTO remains highly optimistic about XRP’s long-term trajectory. In previous analyses, he projected a future price target of $27, driven by increased adoption, Ripple’s expanding global payment network, and growing demand for efficient cross-border settlement solutions.
This bullish outlook hinges on sustained accumulation during downturns and continued confidence in XRP’s utility beyond speculation.
Strategic Advice: Accumulate, Don’t Panic Sell
One of the most crucial takeaways from EGRAG CRYPTO’s analysis is his advice to current holders: do not panic sell. He explicitly discouraged traders from attempting to time the bottom by selling low and buying back in later.
Instead, he advocates for a strategy of disciplined accumulation during dips. Selling out of fear often leads to missed opportunities when prices rebound sharply—especially in volatile markets like crypto.
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By viewing temporary price declines as entry opportunities rather than threats, investors can position themselves advantageously ahead of the next major rally.
Current Market Snapshot: XRP Holds Near $2.27
At the time of writing, XRP is trading at $2.27, reflecting a 5.13% gain over the past 24 hours and a 7.26% increase over the past week. This upward movement follows recent positive developments, including ProShares receiving SEC approval to launch three XRP Futures ETFs on April 30, 2025.
Additionally, Hashdex, a leading crypto asset manager, launched the first XRP Spot ETF in Brazil—marking a significant milestone in XRP’s global financial integration.
These institutional advancements suggest growing legitimacy and demand for XRP-based financial products, even amid short-term volatility.
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Frequently Asked Questions (FAQ)
Q: Why is EGRAG CRYPTO predicting a drop in XRP price?
A: EGRAG CRYPTO cites technical factors such as XRP trading below the bull market support band for over a month and failure to break key resistance levels at $2.33 and $2.45. These conditions increase the likelihood of a retest toward $1.24.
Q: Is the $1.24 level significant for XRP?
A: Yes. The $1.24 zone corresponds to the 0.702 Fibonacci extension level and also aligns with a major breakout point from November 2024—the launchpad for XRP’s previous rally to $3.40.
Q: Should I sell my XRP if it drops to $1.24?
A: According to EGRAG CRYPTO, no. He advises against panic selling and instead recommends accumulating during dips to strengthen long-term holdings.
Q: What is EGRAG CRYPTO’s long-term price target for XRP?
A: He has projected a long-term target of $27, based on fundamentals like adoption, utility, and institutional interest.
Q: Are there any upcoming catalysts for XRP?
A: Yes. ProShares’ upcoming XRP Futures ETFs (approved by the SEC) and Hashdex’s Spot ETF launch in Brazil are significant institutional developments supporting long-term growth.
Q: How reliable is technical analysis for predicting XRP price movements?
A: While not foolproof, technical analysis provides valuable insights into market sentiment and potential reversal zones—especially when combined with on-chain data and macro trends.
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Final Thoughts: Volatility as Opportunity
The cryptocurrency market thrives on cycles of fear and greed. While short-term volatility may unsettle novice investors, seasoned participants understand that pullbacks often precede powerful rallies.
EGRAG CRYPTO’s warning of a potential drop to $1.24 should not be seen as a reason to exit positions but rather as a strategic signal to reassess entry points and reinforce conviction in XRP’s long-term value proposition.
With institutional momentum building through ETF approvals and global adoption expanding, now may be an ideal time to focus on fundamentals rather than fleeting price swings.
Whether you're a long-term holder or considering entering the market, patience and discipline remain key. As history shows, those who accumulate during uncertainty are often best positioned when the next bull run begins.