Ripple (XRP) has shed almost 10% over the past week, invalidating several recovery attempts. The cryptocurrency is currently hovering near $1.11 after a 2% decline on Tuesday.

However, according to a recent market observation by crypto analyst EGRAG CRYPTO, XRP could climb to $5.70-$8 if it follows historical patterns tied to a crucial technical level.

XRP’s Next Expansion

EGRAG CRYPTO said XRP’s “Central Line” has historically separated accumulation periods from phases of strong price expansion. Previous market cycles saw the token deliver significant gains after it moved above this level, prompting the analyst to identify two potential upside targets for the current cycle.

The analyst’s chart shows that XRP is currently trading below the Central Line, which sits above the asset’s current market price and could move into the roughly $2.20-$2.60 region over time. The projected targets are derived from historical percentage gains above this level rather than from XRP’s current trading price.

EGRAG CRYPTO revealed that one cycle saw XRP rise roughly 330% above the Central Line, while another recorded gains of around 200%. Averaging those moves resulted in a projected expansion of approximately 265% above the Central Line, which the analyst said places the asset near the $8 mark.

The analyst also identified a more conservative scenario in which XRP achieves only part of the gains seen in previous cycles. If the market delivers roughly 60% of the prior cycle’s strength, the move would equate to an increase of about 120% above the Central Line, resulting in a target near $5.70.

Based on these calculations, EGRAG CRYPTO identified $5.70 as the conservative target and $8 as the average-cycle objective. The projections are based on historical price expansions above the Central Line rather than market sentiment.

The analyst added that XRP remains below the Central Line and is still trading in an “uncomfortable zone.”

Meanwhile, separate data from CryptoQuant indicates that selling pressure on XRP may be easing as large holders reduce transfers to Binance. Whale activity on the exchange has declined in recent weeks, suggesting lower short-term selling. However, XRP continues to trade below the McGinley Dynamic indicator, as overall momentum remains weak. The asset needs to reclaim this level to support a stronger recovery, while the $1.08 area remains an important support zone.

Upbit Takes the Lead

At the same time, XRP activity has increasingly shifted toward South Korea’s Upbit exchange. Data shows that Upbit’s net wallet-flow dominance rose sharply from 13% on June 8 to 37% by June 22, its highest level in more than a year.

Over the same period, Binance’s reading fell from 16% to zero, while Crypto.com also dropped to zero and Coinbase remained near 9%. Just two weeks earlier, Binance had slightly edged out Upbit, but the latest figures show XRP deposits becoming increasingly concentrated on the South Korean platform. The metric tracks whether deposits outweigh withdrawals on individual exchanges rather than total XRP holdings.

Источник: CryptoPotato