XRP has dropped nearly 10 percent over the past week, weakening several recovery attempts. The asset is currently trading near $1.11 after another 2 percent decline.
Despite recent weakness, crypto analyst EGRAG CRYPTO believes XRP could still climb toward $5.70 or even $8 if historical price patterns repeat.
Central Line Remains the Key Level
According to EGRAG CRYPTO, XRP’s “Central Line” has historically acted as a major dividing line between accumulation phases and explosive price expansions.
In previous market cycles, XRP delivered significant gains after breaking above this level. Based on those historical moves, the analyst outlined two possible upside targets for the current cycle.
At the moment, XRP remains below the Central Line, which sits above the current market price and could gradually move into the $2.20 to $2.60 range. The projected price targets are based on historical percentage gains from this level rather than from XRP’s current price.
One previous cycle saw XRP rise roughly 330 percent above the Central Line, while another recorded gains of around 200 percent. Averaging those expansions gives a projected move of approximately 265 percent above the line, which places XRP near the $8 target.
A more conservative scenario assumes XRP achieves only part of the gains seen in previous cycles. If the asset reaches around 60 percent of prior cycle strength, that would imply a move of roughly 120 percent above the Central Line, producing a target near $5.70.
Based on this framework, EGRAG CRYPTO sees $5.70 as a conservative upside target and $8 as the broader cycle target.
For now, XRP remains below this key technical level and continues trading in what the analyst described as an uncomfortable zone.
Selling Pressure Appears to Be Easing
Recent data from CryptoQuant suggests that selling pressure may be softening as large holders reduce transfers to Binance.
Lower whale activity on Binance indicates reduced short term selling pressure. However, XRP is still trading below the McGinley Dynamic indicator, showing that momentum remains weak.
To confirm a stronger recovery, XRP needs to reclaim this indicator. Meanwhile, the $1.08 level continues to serve as a critical support zone.
Upbit Gains Market Influence
At the same time, XRP trading activity is increasingly shifting toward Upbit in South Korea.
Recent data shows Upbit’s net wallet flow dominance surged from 13 percent on June 8 to 37 percent by June 22, marking its highest level in more than a year.
Over the same period, Binance’s dominance fell from 16 percent to zero, while Crypto.com also dropped to zero. Coinbase remained relatively stable near 9 percent.
Just two weeks ago, Binance held a slight lead over Upbit. The latest data now suggests XRP deposits are becoming increasingly concentrated on the South Korean exchange.
This metric measures whether deposits exceed withdrawals on individual exchanges, offering insight into shifting trading activity rather than total XRP holdings.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
