A widely followed crypto analyst believes XRP has reached a crucial technical turning point, as its two month Relative Strength Index (RSI) sits at the key 50 level. According to the analyst, this level could determine whether XRP continues its broader correction or begins a new bullish phase.
At the time of analysis, XRP was trading near $1.12, down almost 5% over the past 24 hours and roughly 18% over the past month.
RSI Signals a Major Decision Point
Crypto analyst EGRAG CRYPTO shared on X on June 19 that XRP appears to be following a familiar long term pattern consisting of a sharp rally, a cooling phase, a reset, and then a new expansion cycle.
He noted that XRP’s two month RSI is currently sitting right at the 50 level, which he described as a key battleground rather than a clear bullish or bearish signal.
According to his analysis, holding above 50 would suggest momentum is stabilizing and could support a recovery. However, if XRP decisively breaks below this level, the token could face deeper downside pressure, with RSI potentially dropping toward 43.66.
The analyst added that reclaiming the 52.85 to 55.45 RSI zone would be an important signal that macro momentum is recovering. Beyond that, an RSI reading near 80 would indicate a stronger bullish expansion.
He emphasized that the two month RSI is particularly important because it rarely gives signals, but when it does, it often reflects major long term market shifts.
Chart Pattern Suggests Possible Breakout Setup
EGRAG also highlighted XRP’s two month price chart, noting that it appears to be forming an ascending triangle with an A B C D E wave structure.
He believes the first four waves have already played out, meaning XRP may now be completing the final E wave before attempting a breakout.
Still, he stressed that bullish price targets remain speculative for now. XRP must first hold its rising support trendline, reclaim its 7 week moving average, and break through resistance in the $2.00 to $2.10 range before larger upside targets become relevant.
Once those conditions are met, Fibonacci projections suggest possible targets ranging from $9.50 to as high as $100 in an extreme bullish cycle.
This view aligns with another analysis EGRAG shared earlier in the week, where he outlined three historical upside scenarios for XRP based on a larger triangle structure.
In his conservative outlook, XRP could rise to between $6.50 and $9.27. A more balanced cycle projection points toward $13, while an extreme bullish case places XRP near $60.
Price Pressure and On Chain Activity
XRP has recently struggled in the market, slipping below the important $1.20 support level following the Federal Reserve’s latest policy meeting.
Some analysts now warn that continued rejection around the $1.20 to $1.21 resistance zone could push XRP closer to the $1.00 mark.
On chain metrics have also weakened. According to analyst Ali Martinez, active XRP addresses have dropped by nearly 50% over the past two weeks.
In addition, large holders have sold more than 30 million XRP over the last five days. Despite that selling pressure, whales still control close to 70% of XRP’s total supply.
ETF Demand Offers a Positive Signal
Despite weak price action, XRP still has one encouraging signal working in its favor: spot ETF demand.
Spot XRP exchange traded funds continue attracting capital even as funds tied to Bitcoin and Ethereum have recently seen outflows.
According to SoSoValue data, XRP ETFs recorded net inflows of $10.66 million through June 18. During the same period, Bitcoin ETFs saw outflows of $226 million, while Ethereum ETFs recorded $10.05 million in outflows.
This suggests that despite short term weakness, investor interest in XRP remains relatively resilient.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
