XRP is trading around $2.64, up 1.12% in the past 24 hours, with daily trading volume surging 22.5% to $4.33 billion, according to CoinMarketCap. Despite this short-term recovery, popular market analyst EGRAG Crypto has warned that XRP may face a strong rejection before any sustained breakout.
In his latest post, EGRAG outlined the “As Above, As Below” pattern, a setup that he says has historically produced four clean touch points before the final breakout move.
According to his analysis, there is an 80% chance of rejection around the current resistance (Point #2), with only a 20% probability of a clean penetration through that level. “The market needs balance before the real move begins,” he noted, emphasizing patience and precision over emotional trading.
The chart shared by EGRAG shows XRP consolidating between the $2.3 and $2.8 range, forming symmetrical resistance and support lines that have repeatedly capped price rallies over the past three months. This setup mirrors earlier pre-breakout structures in XRP’s history that preceded sharp surges once balance was restored.
If the pattern holds, traders could see one final rejection before the “5th touch” breakout, which EGRAG considers the official trigger for XRP’s next explosive move.
For now, XRP’s fundamentals remain strong, with a $158.8 billion market cap and a circulating supply of 60 billion tokens, suggesting that long-term accumulation continues despite short-term volatility.
