Ripple’s native token joined the market-wide sell-off on Friday, prompted by the largest hack in USD terms in the crypto industry, plunging from about $1.30 to a multi-month low of $1.19 before rebounding to $1.25.
While the short-term structure remains fragile, popular analyst EGRAG CRYPTO argued that the bigger picture still points to substantial upside if one key monthly resistance is reclaimed. Some of his targets, though, still sound far-fetched.
The Level That Can Unlock It All
EGRAG’s long-term thesis centers on XRP’s monthly chart, where the asset is currently trading between the 33-month moving average, acting as dynamic resistance, and the 77-month moving average, which he views as major macro support.
He believes the cross-border token could continue ranging between those two boundaries before a larger breakout develops. His “magic number” is $1.65, and a surge past that line on the monthly chart could open the door toward increasingly aggressive targets of $8, $13, and eventually $30.
Given XRP’s current price struggles, it almost sounds impossible to even imagine any of those, even the most modest one at $8, but EGRAG has been a long-term believer in the asset’s spectacular future.
In a separate update, the analyst reiterated his $13.68 projection and pointed to another long-term pattern that, in his view, could also support a move to $8 and beyond. He also highlighted previous XRP accumulation phases in 2014, 2017, 2020, and 2023, claiming that each was followed by gains exceeding 500%. He admitted that history does not guarantee future repeats, but believes the current 2026 setup deserves attention.
Binance Hack and XRP’s Drop
CasiTrades also weighed in on the asset’s latest price movements, but offered a different perspective on the nosedive. The analyst argued that XRP’s technical structure was already weakened before the Binance hack news broke. Since October 24, the token had repeatedly tested its lower trendline, while CasiTrades said several altcoins were already undergoing corrective Wave 2 structures and approaching deeper Fibonacci retracement levels.
Although she believes the hack was still relevant for the leg down, she argued that the bearish headlines often arrive while markets are already technically positioned for further downside. She sees the current correction as something that had already been developing technically, while EGRAG is looking beyond the immediate weakness toward a potential macro breakout.
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