On April 26, 2024, market analyst Egrag Crypto indicated that XRP could fall to $1.25 if it fails to breach specific resistance levels. This forecast comes despite a recent bullish trading week where XRP reached $2.29.
According to Egrag Crypto, XRP needs to close above $2.33 and reclaim $2.45 to invalidate the bearish outlook. Failure to surpass these levels could lead to a drop to the 0.702 Fibonacci level around $1.25, which aligns with a previous breakout structure.
Currently, XRP is trading at $2.18, a 0.78% decrease in the last day and a 5.08% drop on the monthly chart. Coincodex data shows neutral market sentiment, with only 40% of the last 30 trading days being profitable, although short-term forecasts suggest a potential rise to $2.50 in five days, long-term projections remain bearish.