Analyst EGRAG Crypto believes XRP may be setting up for a sharp rebound after what he describes as a “liquidity grab” on the current downtrend. Using data from the Gemini chart, he notes that the price action is “just filling in the wick,” which often happens before a reversal when market liquidity resets.
XRP Chart Setup: Retesting Key Support
The chart shows XRP trading near $2.20, holding above a key red support zone around $2.07. EGRAG expects the token to find support there before bouncing back toward the green resistance area between $2.45 and $2.60. The projected white path on the chart outlines a potential “V-shaped” recovery once the liquidity sweep is complete. The yellow moving average line indicates a prior breakdown from the recent mid-September high near $3.50, confirming the current retracement phase.
Macro Forces Driving Market Uncertainty
EGRAG compares today’s market to being “on a bus driven by someone blindfolded, speeding at 100 miles per hour.” He links this volatility to the U.S. government gridlock, combined with China–Russia tensions over Ukraine. However, he believes once quantitative easing (QE) returns and the U.S. and China “shake hands,” risk assets like crypto could go parabolic.
Gold, Recession, and Risk Appetite
While gold has recently surged, “acting like a meme coin,” as he puts it, EGRAG expects it to stabilize soon. He has reportedly sold a large portion of his gold holdings, planning to buy again at lower levels. If markets regain clarity, he anticipates risk-on assets, including XRP, to rally strongly before any potential recession hits.
In summary, EGRAG sees XRP’s current correction as a liquidity-driven reset, not a structural breakdown, and believes macro shifts could soon ignite a new bullish leg across crypto markets.
