- EGRAG Crypto’s “Bent Fork” model projects a potential XRP rally to $23 if momentum holds.
- XRP must defend key supports at $2.90, $2.65, and $2.33 to sustain its bullish structure.
- Falling below $1.62 would confirm a bear market and shift sentiment decisively bearish.
XRP’s future may hinge on the critical price levels it’s battling right now. As the token struggles to hold support around the $3 mark, top market analyst EGRAG Crypto has outlined both the bullish path that could take XRP to new highs and the danger zone that might signal a full-blown bear market.
The “Bent Fork” Formation and Breakout Level
EGRAG’s analysis uses a logarithmic regression model he calls the “Bent Fork,” which has historically guided XRP’s parabolic moves. The model maps cycles where XRP surged to the upper arch of the channel:
- Cycle 1: XRP reached the upper arch at $0.0614 in December 2013.
- Cycle 2: XRP touched $3.3 in January 2018.
- Cycle 3: The upper arch now sits at $23, EGRAG’s projected “Valhalla” target.
He believes that if XRP can sustain momentum and replicate previous cycle breakouts, it could eventually hit this upper boundary again.
Key Support and Danger Levels
Currently trading at $2.92, XRP is clinging to its primary support at $2.90. According to EGRAG, holding above $2.90 keeps the bullish structure intact while a dip under $2.65 would weaken the setup if confirmed with a daily close.
Related: The Same Analyst Who Called XRP’s Top Says It’s Now Time to Buy the Dip
EGRAG said that $2.33, aligned with the 21-week EMA, is the final lifeline for bulls and falling below $1.90 would signal bearish momentum taking over. Finally, a close under $1.62 would confirm the start of a bear market.
Community Calls Sub-$3 XRP a ‘Psyop’
The dip below $3 has rattled some traders, but many in the XRP community frame it as a rare opportunity.
Influencer Alex Cobb dismissed the sub-$3 range as a “psyop to steal your coins,” suggesting manipulation is at play to shake holders out of their positions. He remains firm in his belief that XRP is destined for much higher valuations.
Coach JV echoed the sentiment, calling XRP under $3 a “massive blessing.” He compared today’s market to planting seeds, emphasizing that wealth is built during uncertain, sideways trading periods, not during euphoric peaks.
For now, XRP stands at a crossroads. If it can defend support and rally toward the upper arch of EGRAG’s Bent Fork, the path to $23 “Valhalla” remains open. But failure to hold above $1.62 would all but confirm the start of a prolonged bear market cycle.
Related: XRP Remains Bullish Above $2.90, Targets $3.65 ‘Valhalla’ Breakout: Analyst
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