XRP decline means nothing as long as support at $2.77 holds

Following the recent drop in XRP’s price, well-known crypto analyst Egrag Crypto addressed the community, stating that as long as the token’s price on the two-month timeframe remains above $2.77, the decline means nothing.

Egrag uses the two-month chart to identify a key support line, believing that any movement above this threshold is merely a minor fluctuation that does not affect the broader bullish trend.
However, if the price closes below this line — even partially — the analyst would take it as a serious warning of a potential trend reversal.

Despite recent drops, Egrag remains optimistic and expects new all-time highs ahead.
He previously noted that XRP is approaching the final phase of forming a technical pattern known as an ascending triangle.
With about 70% of the formation complete, this stage often precedes a period of heightened volatility and a potential price breakout.

Interestingly, on October 8, the crypto community spotted a large XRP transaction worth $600 million.
Although it was an internal transfer between Ripple’s wallets rather than a market sale, the event sparked speculation among traders about potential institutional repositioning or exchange-related activity.

Meanwhile, retail trader sentiment analysis indicates a shift toward bearish forecasts, as negative comments now outnumber positive ones.

At the time of writing, XRP was trading at $2.81, down 1.75% over the past 24 hours.

See also: "Bitcoin drops below $120,000 as gold rally fades"

#XRP (XRP) #Price drop

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