- XRP defends the $2.77 macro support amid $130M in whale and long-term holder outflows.
- Analyst EGRAG CRYPTO suggests a breakout above $3.65 could ignite a run toward $10+.
- Hidden bullish divergence on XRP’s 12-hour chart signals a possible trend reversal.
XRP is trading at $2.79 after a 4.13% dip in the last 24 hours, extending its weekly losses to 7.76% . Traders are closely watching the crucial $2.77 support level for direction.
Technical Structure Signals Imminent Breakout
Analyst EGRAG CRYPTO highlights that XRP remains super bullish on the two-month chart as long as it holds above $2.77. His macro technical analysis places XRP within a long-term logarithmic growth curve, mapping out historical bull cycles.
According to EGRAG, XRP’s previous macro peaks occurred in 2013 and 2018, with a third cycle peak projected in 2025. The current phase has XRP pressing against a resistance band between $2.77 and $3.65.
A strong monthly close above this zone could trigger a parabolic rally, with price targets ranging between $10 and $48, aligned with the upper arcs of the growth curves.The yellow line on his chart—likely a long-term moving average—has recently tilted upward, a sign of renewed bullish momentum.
EGRAG warns, however, that a close below $2.77 could invalidate the bullish thesis, prompting a strategic exit from his position to preserve profits.
Despite Whale Selling, Market Shows Resilience
XRP faced a 4.7% drop this week, briefly sliding to $2.78 on October 9, its lowest level in nearly two weeks. This decline came amid significant whale activity, as wallets holding between 10M–100M XRP offloaded about 20 million tokens, valued at roughly $56 million, according to Santiment.
Long-term holders also trimmed 26 million XRP, totaling $130 million in combined sell pressure within days, as per Glassnode data.Yet, despite the outflows, the $2.77 support level has held strong, showing that bulls aren’t backing down.
Technical indicators point to a hidden bullish divergence on the 12-hour chart. While the RSI makes lower lows, price action is printing higher lows—a signal that bearish pressure may be weakening beneath the surface.
XRP’s Road to $3.65 Is Key to Unlocking Cycle 3 Peak
According to Casitrades, XRP may be nearing the end of a prolonged consolidation. She points out the asset’s historical tendency to coil tightly before explosive breakouts—citing the 7-year buildup before XRP surged from $0.50 to its previous ATH of $3.66.
Currently, subwaves within the structure suggest limited upside in the short term, with resistance likely around $4.50 to $6.50. However, macro targets remain in the $8 to $13 range, provided XRP can clear the $3.65 resistance.
XRP’s spot volume remains healthy at $1.28 billion, with futures volume at $5.94 billion, indicating active interest from traders. Short positions slightly outpace longs, suggesting a potential for a short squeeze if momentum turns sharply.
