- Analyst suggests XRP price hit its bottom on April 7th.
- Weekly close above $2.25 would confirm the reversal.
- Price targets of $7.50, $13, and $27 remain unchanged.
Cryptocurrency analyst EGRAG indicated that XRP may have seen its price of lowest levels on April 7. EGRAG believes that XRP is currently trading above two significant technical levels which could indicate a potential trend reversal at some point: $2.10 and the 21-week exponential moving average (EMA).
According to another analysis posted on social media by EGRAG, a weekly close above both $2.10 and the 21-week EMA (with a full body candle) will very likely indicate price bottoming, but if price does not close above $2.10 (or $2.25) it may be the completion of requiring price confirmation that suggests downside exposure for the market.
“If we fail to achieve all three of these conditions, we may face another tariff issue,” the analyst warned, drawing parallels to market manipulation tactics seen in previous crypto cycles. EGRAG compared the current market environment to 2013, when news about China’s crypto mining policies would frequently flip between bans and reversals, creating market volatility.
XRP price forecast to $7.5 remains intact
The analyst’s current outlook is a slight shift from an April 13th prediction, when EGRAG warned followers of “one more dip” potentially to $1.85 if XRP failed to close above the $2.30-$2.50 range on the 5-day timeframe. At that time, the analyst even suggested a possible “major liquidation event” that could briefly push prices as low as $1.40.
Despite these cautionary notes, EGRAG’s long-term price targets remain unchanged at $7.50, $13, and $27. These ambitious targets suggest upside potential if the current support levels hold.
EGRAG’s analysis highlights how external factors like tariff policies are being used to manipulate market sentiment, similar to how China’s mining bans were used in previous market cycles.
