Egrag Crypto sees XRP potentially reaching $6.86 after a breakout, based on a 600% expansion from the $0.98 macro bottom.
XRP's breakout came with stronger trading volume and rising network activity, while the holder count continued to increase.
Egrag says XRP must break and close above the marked resistance zone before confirming a larger move toward the 6-7 range.
XRP has moved fast from a months-long base, but analyst Egrag Crypto says the token remains inside a range until it clears his marked resistance zone. His analysis places the next major target near $6.86, based on a possible 600% expansion from a $0.98 macro bottom. The chart also shows stronger volume, rising activity, and a growing holder count.
XRP Builds From July Base
From February through May, XRP traded between about $1.28 and $1.50. However, momentum weakened in late May and June, sending the price toward 1.00-1.05 during July and August.
Source: Santiment
The market then reversed in late August, breaking above $1.10 before climbing to roughly 1.56-1.58. XRP later pulled back, with the latest price near $1.462.
Meanwhile, the 50-day moving average is near $1.22, while the 200-day average stands around $1.10. The 50-day average has also turned higher as price remains above both measures.
Volume And Network Activity Rise
The breakout also came with a sharp increase in trading volume. Daily active addresses rose toward roughly 197,000 on the chart, adding a network activity measure to the price move.
At the same time, the blue holder-count line continued rising throughout the period. It reached roughly 15.2 billion on the chart's scale, according to the provided data. The chart places 1.40 - 1.43 as the nearest support zone. Below that, support appears around $1.22 and $1.10.
Egrag Maps A Potential Expansion
Egrag Crypto said technical structure should take priority over opinion and bias. He said XRP remains in the range until it breaks and closes above his green-arrow zone. He compared the setup with the COVID crash and FTX crash, followed by ranges and later expansions.
He cited previous macro expansions of 1,800% and 1,200%. Using a $0.98 macro bottom, Egrag calculated that a 600% expansion would place XRP near $6.86. He said the 6 -7 region would be important for his planned distribution.
Egrag said he trades the range to accumulate more XRP, rather than converting holdings into dollars. He outlined a cycle of crash, accumulation, range, expansion, distribution, and rotation.
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