Crypto markets are turbulent again, with Bitcoin dipping to $61,000 earlier this morning — its lowest level in four months. Some altcoins initially showed resilience, but most have since followed Bitcoin downward and are now experiencing steeper losses.
Ripple’s XRP has also been affected. The token traded above $1.55 just weeks ago, but a subsequent rejection pushed prices sharply lower. Today XRP fell to just under $1.10, marking its weakest level since before the US presidential elections in late 2024.
Despite the near-term weakness, prominent analyst EGRAG CRYPTO offered a broader perspective, suggesting this current phase could be a setup for a larger move ahead.
What’s Next for XRP?
EGRAG noted that XRP is approaching a crucial juncture that could determine the next major cycle. Drawing a parallel to early 2017, the analyst pointed out a historical pattern in which XRP briefly dropped below a key structural support — a level they called the “Bifrost Bridge” — before launching a significant rally.
That past bull phase began with a pronounced downside wick that served to purge weak hands and realign market positions, EGRAG said.
“The big question: Will we get another massive liquidity wick… or will price build a solid brick structure above support?” the analyst asked.
EGRAG suggested that a repeat of the deep wick scenario could “shake out weak hands, create maximum fear, sweep liquidity fast, and form the final macro reset.” In this scenario, a sudden, aggressive move lower would test market positioning and clear out short-term holders.
The Brick Structure
The alternative scenario described by EGRAG is the “brick” structure. In this view, XRP would consolidate above important support levels — notably around $1.00 and $1.10 — and gradually form a solid base. That pattern would indicate steady accumulation and growing market confidence, potentially allowing prices to resume an upward trend without a dramatic flush.
While both paths are possible, EGRAG expressed a preference for the first outcome:
“Personally…I still think the market wants one final emotional move before the real expansion,” they concluded.
In short, XRP’s near-term price action may hinge on whether the market undergoes another rapid liquidity-clearing move or instead builds a stable foundation above key support. Traders and investors should watch price behavior around those levels closely, as it could signal whether consolidation or a decisive shakeout is coming next.