XRP is trading at $1.43, and the latest debate around its chart has shifted beyond the recent breakdown pattern. Analyst EGRAG CRYPTO said the asset has spent the last 14 months in an accumulation phase, arguing that the descending triangle on its own does not fully define the bigger trend.
Analyst says the broader channel matters more than the triangle
Under standard technical analysis, descending triangles are often read as bearish formations, with downside breaks occurring in roughly 60% to 70% of cases. XRP recently posted a similar move. EGRAG CRYPTO, though, said traders may be putting too much weight on that single pattern while missing the larger channel structure.
His view is that sharp declines do not automatically signal a reversal. In his reading, they can also act as a shakeout that removes leveraged positions and weak hands. The main test, he said, is whether XRP remains inside the broader range he calls the “Bifrost Bridge”. If that channel stays intact, he believes the primary trend is still in place.
100-day moving average and $2 resistance stay in focus
The recent period of consolidation is also being framed as something other than weakness. EGRAG CRYPTO said long sideways phases often come before fast price expansion. At current levels, XRP is testing its 100-day moving average, a setup that has fueled speculation over a possible breakout.
Another level drawing attention is $2, which the report identifies as a major psychological resistance area for investors. No additional volume metrics or deeper market data were included in the source material, but the emphasis is clear: traders are watching how the moving average test interacts with the broader channel rather than relying only on the triangle pattern.
Cross-chain activity adds to interest around wXRP
Discussion around XRP has also been supported by ecosystem activity. According to the report, a senior Solana executive recently converted $10,000 worth of XRP into wXRP and moved it across blockchains, drawing attention to technical design and liquidity conditions.
Within the first 24 hours after Wrapped XRP launched, liquidity reportedly moved past $1 million. That has revived debate around cross-chain token transfers and XRP’s expanding interoperability beyond its native chain. Based on the material provided, EGRAG CRYPTO does not treat the recent volatility as a structural breakdown, but as a market stress test inside an ongoing cycle.