Market analyst EGRAG Crypto stated that XRP’s macro structure remains “fully intact” as the token trends toward higher price targets. The analysis comes as XRP and the broader cryptocurrency market face sustained pressure over recent months.
XRP has dropped nearly 22% since October, with a 3.87% decline in December alone. This positions the token for a third consecutive monthly loss for the first time since late 2022. Despite this bearish pressure, EGRAG believes the asset maintains its path toward elevated price levels.
Bifrost Bridge Channel Guides Price Action
EGRAG highlighted the Bifrost Bridge in the latest market analysis. This structure represents an ascending channel that has guided XRP’s price movements since 2013. The channel has consistently functioned as resistance and support over the years, determining the token’s next directional move.
XRP currently remains within the channel boundaries. The analyst identified a yellow support box positioned between the October 10 lows of $1.58 and the $2 price level. This support zone serves as a critical area where buyers can defend against further price declines.
EGRAG stated that XRP’s bullish structure holds because the token has not recorded any monthly close below this support box despite occasional retests during the downtrend. The analyst confirmed XRP has spent 13 months accumulating above the $2 level.
This accumulation period builds foundation for upcoming bullish momentum, according to EGRAG. Short-term downward pressure resulting from accumulation has created bearish sentiment. However, the analyst suggested these movements represent liquidity games designed to shake out participants without conviction rather than fundamental structural changes.
EGRAG explained that important factors shaping the market include the broader monthly structure, overall macro trend, steady formation of higher lows, and growing presence of stronger holders. With these elements positioned, a breakout becomes a matter of timing rather than possibility.
The analyst admitted that XRP has not broken above the Bifrost Bridge despite the bullish stance. A break above the bridge typically sets the stage for greater price increases. EGRAG confirmed the bridge will continue guiding XRP’s price action for many more years.
