XRP experienced a steep decline on its monthly timeframe, finishing the latest candle at $1.4028, which marks a decrease of $0.0866 or 5.81% for the month. This downward movement has left many market participants seeking answers.
Cryptocurrency analyst EGRAG CRYPTO (@egragcrypto) tackled these worries head-on via social media, maintaining that the monthly technical setup is still sound. He remarked, “Sometimes I read the comments and wonder if people are analyzing charts or consulting their coffee cups!”
The Key Moving Averages
His evaluation centers on a pair of exponential moving averages displayed on the monthly time frame: the 33 EMA and the 111 EMA. According to the analyst, these two metrics “have historically helped define major cycle structures” for the asset.
The 33 EMA sits close to the current market value, making it the more pressing factor. EGRAG CRYPTO designated it as “the major resistance” for this phase of the cycle.
#XRP CRASHED! CANCEL VALHALLA?
Sometimes I read the comments and wonder if people are analyzing charts or consulting their coffee cups!
Anyway, back to the CHARTS & NUMBERS!
LET ME BE CRYSTAL CLEAR.#XRP can still retrace toward $1.20 and remain within its MACRO BULLISH… pic.twitter.com/ag7fG0Q7F0
— EGRAG CRYPTO (@egragcrypto) October 9, 2026
$1.20 Is the Line to Watch
The analyst defined the exact threshold for his perspective, writing, “$1.20 is my KEY LINE IN THE SAND.” He noted that XRP could dip toward that figure while staying inside its broader bullish framework. Sustaining a monthly close above this threshold preserves the positive outlook, whereas dropping underneath it alters the scenario.
Historical data on the chart reveals past major drawdowns following a comparable trajectory prior to substantial upward moves. EGRAG CRYPTO referenced this precedent to back his outlook, observing that “previous macro corrections created opportunities before major expansions.”
Building Structure
Addressing claims that the current retracement indicates a market collapse, EGRAG CRYPTO countered, “Right now, we’re building STRUCTURES, not destroying the macro thesis.” He maintains the view that XRP has already established its low point.
The MACRO Range marker on the chart is positioned around $2.30, higher than the current trading value. The analyst pointed to $1.65 as the initial crucial threshold for XRP to recapture. Beyond that, Fibonacci extension markers on the chart indicate goals at 1.272 ($5.1643), 1.414 ($6.2092), and 1.618 ($8.0911). His post also referenced an extended $4-$8 bracket for the higher Fibonacci extensions.
The $15 Target
At the upper boundary of the chart lies the $15 mark, designated as the “VALHALLA SCENARIO.” EGRAG CRYPTO has kept this objective unchanged. The chart outlines a trajectory toward $15 originating from the present consolidation phase, aligning with the trajectory formed by past cycle highs dating back to 2013 on the monthly chart.