XRP Crash Alert: Analyst Says $1.20 Plunge Still Bullish

XRP has fallen below $1.35 after a broad cryptocurrency market sell-off, but prominent analyst EGRAG CRYPTO says the token could plunge to $1.20 and still remain in a bullish structure. In a post on X, the analyst pointed to the monthly chart's 33 and 111 exponential moving averages, calling $1.20 the "line in the sand" that must hold on a monthly closing basis to preserve the broader bull thesis.

EGRAG CRYPTO, who remained bullish even when XRP slipped below $1.00 in early August, warned that a sustained breakdown below $1.20 would force him to reassess and likely invalidate the pattern. On the upside, he identified $1.65 as the first major level to reclaim, with a potential surge to $4.00-$8.00 if the structure develops further. His most aggressive "Valhalla" scenario extends beyond $15, though he described it as highly speculative. Separately, analyst Bird highlighted three descending resistance trendlines on the four-hour chart, noting that the first two were followed by explosive upside moves. Bird sees a major demand zone at $1.30-$1.34 and resistance at $1.52-$1.56, with a breakout potentially opening the door to $2.00. Celal Kucuker echoed that view, saying $2.00 is "within reach" by the end of the month after XRP bounced from a "solid support level."

The competing analyses come as XRP trades in a tight range between $1.30 and $1.56, with the broader crypto market still reeling from a sharp correction that saw Bitcoin drop $7,000 in three days. Traders are now watching whether XRP can hold the $1.20-$1.30 support zone or break above $1.56 to confirm the next leg up. A monthly close below $1.20 would be a significant blow to the bullish case, while a breakout could reignite momentum toward $2.00 and beyond.