Chartist flags possible XRP dip to $1.07 before recovery targets

What happened

Egrag Crypto, a chartist with a large following on X, has outlined a path in which XRP slips into the $1.11, $1.07 band before mounting a recovery, according to Crypto Daily. The analyst said XRP had already reached an earlier downside target at $1.18, a level he had tracked for weeks, and now viewed the surrounding range as an accumulation area. He reported being 97% allocated to spot positions. His roadmap allows for one more decline, then lists $1.25 and $1.43 as recovery markers, with $1.63 and $1.80 as later targets and no timetable attached.

A subsequent post on November 9, covered by Blockonomi, put more weight on daily closes. Egrag Crypto said the bearish path he had mapped was playing out and described $1.11, $1.07 as the last area of potential support. A screenshot in the report showed XRP near $1.09, down 6.78% at the time it was captured. The analyst also raised $1.00 as a possible destination but said a move to that psychological level would not by itself invalidate the higher-low structure on his chart. A daily close below $1.07, he said, would be a major warning because it could point to weakness across the whole formation rather than a single support failure.

Market context from CryptoPotato showed XRP under pressure near $1.16 after a rebound into the $1.30, $1.34 supply area was rejected. That move led to a break below $1.24, $1.28 and a slide toward $1.16, with the next demand zone identified at $1.09, $1.14. The outlet said a sustained break below $1.09 would expose the $0.99, $1.03 area around August lows. On the four-hour chart, it described a failed breakout above a descending channel and a sequence of lower highs and lower lows, with the $1.15 low as the immediate downside reference.

Why it matters

The distinction between an intraday dip and a confirmed breakdown is central to the analyst's case. Blockonomi reported that a daily close beneath $1.07 would carry more weight than a brief move toward $1.00, while Crypto Daily said the accumulation view would hold only if XRP climbed back above his line within days. The recovery side is also conditional. CryptoPotato said XRP first needs to clear recent lower highs around $1.18, $1.20, then $1.24, $1.28; the $1.30, $1.34 zone remains a larger barrier. Egrag Crypto's first recovery marker at $1.25 sits near that resistance cluster, making it an early test of whether buyers can do more than slow the decline.

What the data shows

Crypto Daily reported that XRP had lost about 16% over the previous month and roughly 7% over the previous week, while the last 24 hours were flat. The 50-day moving average was near $1.31 and the 200-day near $1.36, both above the market and acting as overhead levels. RSI was near 32, close to the oversold threshold of 30, but had not turned higher. MACD remained below its signal line, and trend-strength readings showed no strong trend in either direction. The report also said the chart showed no support until about $0.99, below the floor of the expected dip zone.

Background

Earlier coverage documented Egrag Crypto's $1.18 target and his warning that XRP could fall further toward $1.07. Blockonomi noted that the later post did not establish that buyers would defend either $1.07 or $1.00, nor did it provide a timetable for a reversal. The analyst kept his accumulation stance, saying he was buying XRP in the spot market while accepting the risk of additional losses; for leveraged positions, he said he would wait for confirmation. Crypto Daily noted that reaching the top of his channel would represent a gain of about 23%, while his final target would be roughly 55% higher. The projected recovery levels remain conditional scenarios rather than confirmed moves.

What to watch

Traders following the analysis will focus on daily closes around $1.07, the lower edge of the $1.11, $1.07 zone. A close below that level would sharpen the warning described by Egrag Crypto, while a defense of the area would keep his recovery roadmap alive. On the upside, the first signals would be a reclaim of $1.18, $1.20 and then $1.24, $1.28, according to CryptoPotato. The 50-day and 200-day averages near $1.31 and $1.36 sit above those levels. A move toward $1.00 or the $0.99 area would test the downside support picture. No timetable has been given for any of the scenarios.

Questions readers ask