- XRP now trades at $3.05 with Egrag Crypto calling $10.30 “The Chasm” breakout level.
- Market cap could jump to $615B if XRP clears the long-term resistance barrier.
- Futures, volume, and options data show rising bullish positioning from traders.
XRP is trading near $3.05, a 1.9% increase in the past day, which has boosted the weekly gain to 10.3%. Analyst Egrag Crypto has identified $10.30 as XRP’s projected breakout level, referring to the level as “The Chasm.”
XRP’s “Chasm” Resistance Explained
“The Chasm” is a long-term resistance line that XRP has repeatedly tested but failed to overcome in past cycles. Egrag’s chart shows several points, including 2018 and 2021, where XRP touched this upward-sloping line before retreating. The latest data places this barrier at $10.30.
Related: XRP Price Prediction: XRP Eyes $3.2 Breakout as Derivatives Interest Surges
Importantly, the analyst emphasized that the line rises over time, meaning that the longer it takes XRP to reach it, the higher the resistance will be.
As of today, XRP market capitalization stands at $181.9 billion. A breakout above the long-term “Chasm” resistance at $10.30 would represent a gain of nearly 238% from current levels and lift XRP’s valuation to roughly $615 billion. This would place XRP above Ethereum market cap, currently at $540 billion, assuming ETH fails to see comparable price growth.
Patience and Long-Term Strategy
Egrag stressed the need for patience and discipline, suggesting that only those willing to wait will understand the long-term opportunity.
The chart indicates that if XRP successfully breaks above the Chasm, it could pave the way for significant gains, with double-digit prices becoming more realistic. However, failure to breach the barrier could result in continued sideways movement or renewed selling pressure.
XRP Outlook from Other Analysts
XRP remains above the 200-day EMA at $2.62, keeping the broader uptrend intact despite pressure from a descending resistance line dating back to July. A close above $3.20 could confirm a bullish continuation, setting targets at $3.40 and $3.60. Conversely, a breakdown below $2.84 may shift the focus back toward $2.62.
Market positioning supports the bullish case, with futures open interest rising 7.7% to $8.52 billion and trading volume jumping 29% to $8.71 billion. Options activity also expanded more than 12%, while Binance’s long-to-short ratio shows traders heavily favoring the upside.
Analysts caution that such positioning could fuel near-term volatility, but momentum is shifting toward buyers as speculation about XRP’s role in global payments adds to market interest.
Prominent analysts had earlier predicted double figures for XRP. Analyst Michaël van de Poppe believes XRP’s prolonged consolidation could fuel a breakout in the next bull run, targeting $10 to $25, while EGRAG projects even higher gains. He suggests that Fibonacci patterns indicate a potential rise between $33 and $50 if historical cycles repeat.
Related: Could 2,000 XRP Today Be Worth $100K by 2026?
Analyst Adam Stokes, meanwhile, said crypto may break from its usual four-year cycle as institutional adoption grows. He sees XRP trading realistically between $5 and $7, while higher targets would require far greater liquidity.
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