The XRP price outlook has taken a surprising turn as EGRAG CRYPTO—one of the cryptocurrency’s most vocal supporters—has issued a rare bearish forecast for the short term. Known in the crypto community for his consistently bullish takes on XRP, EGRAG’s latest analysis has sparked attention and debate among investors. In a recent post on the social platform X (formerly Twitter), he warned that current technical indicators suggest a potential sharp correction could be on the horizon before any significant recovery takes place.
This shift in tone doesn’t signal a long-term loss of confidence but rather highlights a strategic market phase that could present a valuable opportunity for savvy investors.
EGRAG CRYPTO Forecasts Short-Term Dip to $1.24
According to EGRAG CRYPTO, the immediate technical structure of XRP points toward a possible downturn in price. Backing his claim with a detailed chart analysis, he illustrated how XRP is currently trading below the critical bull market support band—a development that has persisted for over a month since its breakdown in mid-March 2025.
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This prolonged period beneath the support zone increases the likelihood of a deeper retest before the next leg of the bull run begins. Historically, such retracements serve to shake out weak hands and consolidate strength before a powerful upward move.
EGRAG 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 may persist, potentially driving XRP toward a critical Fibonacci extension level.
The 0.702 Fib extension currently sits around $1.24, making it a likely target for this corrective phase. While a drop to this level might concern some holders, EGRAG views it not as a sign of weakness but as a necessary step in building a stronger foundation for future growth.
Why $1.24 Could Be a Strategic Accumulation Zone
What makes the $1.24 level particularly significant is its historical context. This price zone corresponds to a major breakout structure formed in November 2024, which acted as the springboard for XRP’s impressive rally to $3.40. A retest of this area would effectively validate the strength of that earlier breakout—a common pattern seen in healthy bull markets.
In technical analysis terms, revisiting previous support (now potential future support) often confirms market structure integrity. If XRP does reach $1.24 and holds, it could trigger a strong reversal, reigniting bullish momentum with renewed investor confidence.
Such pullbacks are not anomalies—they’re natural components of market cycles. Assets that undergo controlled corrections tend to sustain longer and more powerful rallies than those that rise unchecked without consolidation.
Long-Term Outlook Remains Strong: $27 Price Target Predicted
Despite the anticipated near-term volatility, EGRAG CRYPTO maintains an overwhelmingly positive long-term outlook for XRP. He has previously projected a **long-term price target of $27**, suggesting that even a dip to $1.24 would represent just a temporary setback within a much broader upward trajectory.
This kind of perspective is crucial for investors focused on value rather than short-term price swings. For those with a strategic mindset, periods of decline can offer prime opportunities to accumulate assets at discounted levels—especially when backed by strong technical reasoning.
EGRAG explicitly advised against panic selling or attempting to time the bottom perfectly. Instead, he encouraged followers to view any drop toward $1.24 as a potential buying opportunity, aligning with the principle of "buying the dip" during healthy market corrections.
Current Market Momentum Supports Future Growth
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 significant developments in the regulatory and financial landscape surrounding XRP.
Notably, ProShares received SEC approval to launch three XRP Futures ETFs set for debut on April 30, 2025—an important milestone indicating growing institutional acceptance. Additionally, crypto asset manager Hashdex recently launched the first XRP Spot ETF in Brazil, further expanding global access and legitimacy for the asset.
These advancements underscore increasing confidence in XRP’s compliance and utility, factors that could fuel long-term demand regardless of short-term price fluctuations.
👉 Learn how ETF approvals are reshaping investor access to cryptocurrencies like XRP.
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Frequently Asked Questions (FAQ)
What is EGRAG CRYPTO’s short-term XRP price forecast?
EGRAG CRYPTO predicts that XRP may experience a short-term decline toward **$1.24**, driven by its current position below the bull market support band and failure to reclaim resistance at $2.33–$2.45.
Why is $1.24 considered an important level for XRP?
The $1.24 level aligns with the 0.702 Fibonacci extension and coincides with a key breakout zone from November 2024—the same area that triggered XRP’s previous rally to $3.40. Retesting this level could validate prior strength and set up a stronger rebound.
Should I sell my XRP if it drops to $1.24?
EGRAG CRYPTO advises against panic selling. Instead, he recommends viewing a potential drop to $1.24 as an accumulation opportunity for long-term investors aiming to benefit from future upside.
Is there still bullish momentum behind XRP despite the predicted dip?
Yes. Recent developments such as ProShares’ SEC-approved XRP Futures ETFs and Hashdex’s launch of an XRP Spot ETF in Brazil indicate growing institutional interest and regulatory progress—positive signs for long-term adoption.
What is EGRAG CRYPTO’s long-term price target for XRP?
EGRAG has projected a long-term XRP price target of $27, suggesting substantial upside potential even after accounting for short-term corrections.
How reliable is EGRAG CRYPTO’s analysis?
While no analyst is infallible, EGRAG CRYPTO has built credibility through consistent technical assessments and transparency in sharing chart-based reasoning. His shift to a short-term bearish view carries weight due to his typically bullish bias on XRP.
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