XRP News Today: XRP Eyes $37 If Chasm Line Broken Per Technical Analysis

Market analyst EGRAG Crypto has presented a technical forecast suggesting that XRP could potentially reach as high as $37, contingent on specific price movements toward a long-standing resistance level known as the “Chasm line.” This projection stems from an analysis of historical price patterns across three major market cycles, with the current phase being referred to as Cycle 3. EGRAG notes that if XRP can successfully breach the Chasm line on its monthly chart—previously a significant resistance level—it could follow a similar trajectory to its 2017 breakout, which led to a 2,000% rally [1].

The Chasm line has historically acted as a psychological and technical barrier for XRP. During the 2017–2018 cycle, XRP reached the line and triggered a sharp correction before eventually surging past it to an all-time high of $3.31. In 2020–2021, the asset again approached the line, peaking at $1.96, but failed to break through, leading to a subsequent decline. Now, as XRP stabilizes above $3, analysts are closely watching whether the same dynamic will play out [1].

EGRAG outlines two potential outcomes: a conservative scenario in which XRP reaches the Chasm line but does not surpass it, projecting a peak of $11—a 420% increase from current levels—and an aggressive scenario where the asset breaks through the line and potentially climbs to $37. This aggressive projection is based on the assumption that historical price behavior could repeat itself, though it remains speculative and contingent on market conditions [1].

Supporting this bullish outlook, another analyst known as Chart Nerd has noted that XRP has broken out of a bull flag pattern, suggesting the asset could move toward $15. Immediate support is seen around $2.60, and if that level holds, a move toward $8 and eventually $15 could follow. These signals reinforce the idea that XRP is in a phase of consolidation before a potential breakout [1].

Despite these positive indicators, EGRAG’s forecast is based purely on technical analysis, not fundamental metrics or macroeconomic factors. The current market remains volatile, and any movement above $3 could be swiftly reversed if sentiment shifts or regulatory developments emerge. Investors are cautioned that while the technical outlook is optimistic, it should not be interpreted as a guaranteed outcome [1].

The broader cryptocurrency market has also seen activity in other areas, though these developments are not directly tied to XRP’s price action. For example, Robinhood recently listed two meme coins, MOODENG and MEW, which saw immediate gains but raised questions about transparency and fairness. However, these listings are outside the scope of XRP’s technical analysis and are better viewed as part of a broader speculative trend [7].

As XRP continues to consolidate near the $3 level, the focus remains on whether it can retest—and potentially break through—the Chasm line. If it does, a sharp upward move could follow, aligning with the most aggressive price projection of $37. Until then, the market remains in a waiting period, observing how XRP interacts with this historically significant resistance level [1].

Source:

[1] Times – [https://timestabloid.com/top-analyst-predicts-37-xrp-but-theres-a-catch/](https://timestabloid.com/top-analyst-predicts-37-xrp-but-theres-a-catch/)

[7] CryptoWeekly – [https://cryptoweekly.co/news/moodeng-mew-skyrocket-after-robinhood-listing/](https://cryptoweekly.co/news/moodeng-mew-skyrocket-after-robinhood-listing/)