Cryptocurrency analyst Egrag Crypto advised XRP investors not to panic when making their next market decisions. He highlighted important levels to watch as the altcoin retraces along with the broader crypto market. In a post on platform X, Egrag Crypto guided XRP investors, especially newcomers, not to let fear dictate their actions. He commented on the current price action, stating that investors will see where the market stabilizes by the end of the day.#BTC
The analyst stated that if the price of XRP maintains closes above $2.80, it is still in a super optimistic position. Furthermore, he mentioned that a close near $2.65 keeps the altcoin within a strong structural formation. Egrag Crypto also raised the possibility of a drop to $2.34, which would represent a 30% retracement. Regardless of what happens, the analyst is confident that the altcoin will eventually rise to higher prices. He advised XRP investors to hold firm, indicating that a new parabolic rally is on the horizon.#BinanceHODLerTOWNS
However, in the short term, a more pronounced price correction may occur, according to cryptocurrency analyst Ali Martinez. In a post on platform X, he stated that the relationship between Market Value and Realized Value (MVRV) indicated a death cross for XRP, suggesting that a sharper correction may be on the way. His chart showed that the altcoin could drop to the psychological level of $2 during this decline. In another post, Martinez said that on-chain data shows that past accumulation behavior points to $2.80 as a temporary buffer for XRP, while real support begins below $2.48.
In a long-term update, Egrag Crypto analyzed the 6-month chart of XRP. He noted that the altcoin has less than five months until this candle closes. Based on this, he questioned whether it can still make history by breaking the abyss of whether the top may have already been reached. However, the analyst believes that the market top has not yet been reached and that the final leg for the price of XRP is still imminent, something he stated would be 'epic.' Egrag Crypto declared that the measured move on the Non-Log Scale places the altcoin at a market top around $4.89. On the other hand, the measured move on the Log Scale shows a market top of $48.90. The analyst noted that he is taking an average approach between the two targets, seeing XRP reaching at least $27. At the time of writing, the price of XRP is around $2.97, with a nearly 5% increase in the last 24 hours, according to data from CoinMarketCap. $XRP
