XRP nears 300-week moving average, Egrag Crypto identifies $1.03 support

XRP may be approaching a key technical stage as crypto analyst Egrag Crypto points to a potential retest of the 300-week moving average (MA), a level he describes as critical for retaining the asset’s longer-term bullish bias.

300-week moving average in focus

Egrag Crypto, a market analyst known for sharing strategic technical insights on digital assets, posted on X that XRP is entering a historically significant phase often observed in previous market cycles.

He highlighted that the 300-week MA currently sits around $1.03, with the indicator trending upward. Egrag views this long-term MA as a structural support level for XRP. Despite the possibility of the price drifting toward the $1.00–$1.10 region, he does not consider such a move inherently negative. Instead, he suggests this area could provide a crucial technical test before potential recovery.

Egrag outlined a traditional pattern: “Penetrate or reclaim the 300W MA, retest it, then see a fear-driven event or major news before the market’s structure ultimately holds.”

He noted that in past cycles, XRP typically underwent an initial breakthrough or recovery of the 300-week MA, followed by a confirmation retest. This was often accompanied by temporary fear or major headlines impacting sentiment, before the market stabilized and moved higher.