XRP Sees Fractal Pattern Play Out as Price Tests Key Support Zone
Crypto analyst Egrag Crypto (@egragcrypto) has identified a repeating pattern in XRP's price action that he believes is currently playing out. The analyst pointed to a chart showing XRP's behavior from July through mid-August, where the cryptocurrency repeatedly tested and bounced from a compressed range near $0.97 to $1.05 support band before breaking sharply higher in late August.
The fractal argument rests on the earlier accumulation behavior, marked by multiple circles on the left of the chart. Egrag Crypto is watching for a similar pattern to complete now, with XRP currently testing the area below a rising trendline that runs beneath the price action following the August breakout.
The chart shows several key price levels, including support zones at $1.1522 and $1.1000, as well as deeper pullback targets if support fails. To the upside, resistance levels stand out at $1.3915, $1.3896, $1.4923, $1.5114, $1.5436, and $1.6203.
XRP currently sits just above the immediate support zone of $1.30, which represents a key inflection point according to Egrag Crypto's chart.