Top analysts warn: XRP falling below $1.62 will fully enter a Bear Market.

Renowned encryption analyst EGRAG Crypto's latest technical chart shows that Ripple (XRP) is approaching a critical price level. Once it breaks through $3.65, it is expected to embark on a crazy rebound, heading towards what he calls the "Valhalla" target zone of $23. However, he also warns that if it falls below $1.62, it will confirm the full onset of the Bear Market.

Logarithmic Regression Model + "Cross" Pattern Reveals Key Trend

EGRAG uses logarithmic regression channels and its own created Bent Fork pattern to analyze the long-term trend of XRP, and compares the price fluctuations of the three major historical cycles:

First cycle (2013): Reached upper arch position of 0.0614 USD

Second cycle (2018): Reached the arch position of 3.3 USD

Third Cycle (Current): The upper arch corresponds to 23 dollars

He pointed out that XRP is currently approaching the midpoint of the regression channel. If it can break through 3.65 USD and close firmly, it will enter the price discovery phase, with a target directly aimed at 23 USD.

Key Support and Defense Area

EGRAG listed several key support levels that influence trends:

2.90 USD: Midpoint of the return channel, current main support level

2.65 USD: Short-term defense point, a daily close below will weaken the bullish structure.

2.33 USD: coinciding with the 21-week EMA, regarded as the last lifeline

1.90 USD: Falling below will turn into a defensive market pattern.

1.62 USD: Bear Market confirmation zone, closing below will trigger a down cycle.

Currently, XRP is priced at $2.92, still holding the main support level at $2.90.

Potential for Increase and Historical Comparison

(Source: Trading View)

EGRAG emphasizes that historically, XRP often quickly rushes towards the Bent Fork peak after breaking through key resistance.

After breaking through in 2013, it rose over 10 times.

After breaking through in 2018, it rose more than 7 times.

If this cycle replicates a similar trend, after breaking through 3.65 USD, 23 USD will no longer be a dream.

Investor Strategy Recommendations

(Source: Trading View)

Bullish: Focus on the opportunity to break through $3.65 and buy on dips near support levels.

Risk Management: Strictly prevent falling below 2.33 USD and 1.62 USD, the latter being a signal for the full activation of the Bear Market.

Medium to long-term observation: As long as the main support is maintained, XRP's long-term structure still has room for upward movement.

Conclusion

XRP is currently at a critical juncture for bulls and bears, with $3.65 being the key threshold for impacting historical trends, while $1.62 serves as the last warning line for the Bear Market. For investors, this is a high-risk, high-reward game. For more real-time market updates and technical analysis, please follow the official Gate platform.