Crypto analyst warns XRP holders: Time is running out

According to analyst Egrag Crypto, the XRP price is approaching a crucial point. Currently, XRP is selling within a so-called symmetrical triangle pattern, a technical formation in which the price is increasingly narrowing. Analysts say such patterns often culminate in a significant breakout.

Nevertheless, Egrag warns that holders may have to expect a treacherous downward movement before XRP can actually break out.

XRP price encounters crucial resistance

According to the analyst, the area between $1.80 and $1.90 poses a major obstacle for XRP. This level has been holding back the price for some time and is considered a significant resistance at the macro level.

Only if XRP convincingly breaks out above this zone can a larger rally occur. In this scenario, Egrag sees potential for a rise towards approximately $2.30.

Meanwhile, a rising support line appears to be stabilizing the price for now. This leaves XRP trapped between support and resistance, while the range continues to narrow.

Analyst initially expects possible 'fake pump'

Although the technical picture appears positive in the long term, Egrag believes the market could initially surprise holders. He anticipates a temporary rise followed by another decline.

The analyst points out that XRP has frequently experienced strong rallies in previous cycles, which were later completely reversed. He believes such a move could occur again before a genuine upward trend begins.

In this scenario, XRP could initially test even lower levels or even form a so-called double bottom. Only then, according to Egrag, would the market be ready for a more sustained rise.

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