Analyst Says Be Concerned About XRP Price When This Starts Happening To 3-Day Candles

The XRP price has been exhibiting a complex pattern of consolidation and retracement for weeks. However, according to prominent market analyst Egrag Crypto, there’s a critical signal to watch for that could determine whether the cryptocurrency’s bullish narrative remains intact or ￰0￱ expert’s analysis, shared on X social media, highlights that the behaviour of XRP’s 3-day candles could soon decide the direction of its next major ￰1￱ Price Integrity Hinges On 3-Day Candle Closes Below $2 In his post on X, Egrag Crypto explains the “measured move breakdown” for XRP, identifying a key technical formation in the form of a descending triangle that, based on its structure, points to a potential move toward $2.14.

The accompanying chart shows XRP hovering between $2.40 and $2.60, with multiple retests of the same price levels over the past few ￰2￱ the brief wick to the downside, Egrag Crypto suggests that the structure continues to indicate consolidation within the ￰3￱ Reading: Here’s How High The XRP Price Would Be With The Market Cap Of Bitcoin The analyst reiterates that $2.65 remains a critical price target for ￰4￱ the cryptocurrency breaks and sustains above it, he predicts that it could regain upward momentum, potentially paving the way for renewed bullish sentiment. However, failure to hold current levels around $2.5 might expose XRP to deeper retracements, particularly if 3-day candles start closing below the $2.00 to $1.91 ￰5￱ Crypto warns that this specific candle behaviour is concerning, as it could signal a structural breakdown of XRP’s market ￰6￱ could also invalidate his bullish thesis, suggesting that the recent peak near $3.65 may have been the cycle top.

Additionally, the analyst’s chart shows XRP’s price action hovering above the 200 Exponential Moving Average (EMA), serving as a long-term support ￰7￱ XRP maintain its position above this moving average, Egrag Crypto asserts that the cryptocurrency’s bullish setup remains ￰8￱ noted that the next 60 to 90 days are expected to be crucial, as XRP’s reaction around the levels mentioned above could define the trajectory of the rest of the ￰9￱ Faces 57% Chance Of Breaking To A New ATH In a separate analysis, Egrag Crypto introduced a 57% to 43% probability model, sharing his broader perspective on XRP’s potential price direction in the short ￰10￱ stated that there is a 57% probability that XRP could break into a new all-time high in the coming ￰11￱ also sees a 43% chance that the cryptocurrency could decline significantly, offering traders another opportunity to accumulate it at a price below $1.

Related Reading: Market Strategist: What You Should Expect For The XRP Next Leg While the probabilities of XRP’s near-term price favor a more bullish outcome, the bearish case remains plausible given the lingering macroeconomic uncertainty and overall crypto market ￰12￱ Crypto notes that he is personally positioning himself toward the bullish scenario, aligning his expectations with the 57% chance of a major price ￰13￱ image from iStock, chart from ￰14￱