XRP: What Could Be Next After Price Went Back Under $2.8

XRP has slipped back below the $3 mark, a level that many traders had been waiting for but are now treating with caution. Market commentator EGRAG Crypto believes this retracement may not be a reason for panic, but rather a chance to position for the next big move.

Bullish engulfing pattern in focus

According to EGRAG, the signal to watch is the formation of a bullish engulfing candle on the weekly chart. He argues that this pattern has historically marked the beginning of powerful rallies for XRP. Should it appear again in the current cycle, he projects the token could climb toward $7.30, setting a new all-time high.

Key downside levels to monitor

The analyst also warned that further weakness in Bitcoin could drag XRP lower in the short term. In such a scenario, the $2.60 area is the first line of defense, with $2.37 highlighted as a deeper support. If prices dip that far, EGRAG suggests it may represent a rare chance to accumulate before the next upward leg.

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Support remains intact

Despite the pullback, XRP is still trading above its Bull Market Support Band on weekly timeframes. EGRAG emphasized that as long as there are no decisive closes below this band, the broader uptrend remains intact.

Outlook

With XRP hovering under $3, the market now faces a pivotal juncture. Either a bullish engulfing candle reignites momentum toward new highs, or pressure from Bitcoin could trigger a test of lower support levels. For traders, the next few weeks may decide whether this dip proves to be a gift or the start of a deeper correction.