Just caught an interesting technical setup on XRP that's worth examining from a macro lens. Analyst Egrag Crypto recently shared some compelling observations about the long-term chart structure, and honestly, it's one of those patterns that makes you pause and think differently about where we might be in the cycle.

So here's what caught my attention. Egrag Crypto has been pointing to a triple bottom formation that's developed across multiple market cycles on XRP. Not just a quick bounce pattern, but a legitimate multi-cycle base that's taken months to form. The thing that stands out is how consistently XRP has been respecting its long-term trend and moving average alignment throughout this entire structure. That kind of consistency suggests this might be something real rather than just noise.

The current price action appears to be in what Egrag Crypto identifies as the final corrective leg of this formation. It's structured as an ABC corrective wave, which is pretty common in technical analysis - basically the market dips through three segments before finding support. If we're really in that final C wave right now, then we could be approaching a critical inflection point soon.

What makes this analysis interesting is the precision around key support levels. Egrag Crypto has identified around $0.91 as a major confluence zone where multiple technical signals converge. That level aligns with the 0.618 Fibonacci retracement that everyone watches, plus it corresponds with previous demand zones. It's the kind of area where you'd expect to see a liquidity sweep before the market potentially shifts gears. With XRP currently trading around $1.46, we're still above that potential bottom zone, so there's room for this corrective phase to play out.

But here's the key level everyone should be watching - $1.65 on the weekly timeframe. According to Egrag Crypto's analysis, reclaiming that level would be the first real signal that the structure has shifted toward a bullish phase. If XRP breaks above $1.65, it would mean the descending corrective structure has completed and the triple bottom formation is done. That's when you'd expect to see the chart start aligning with higher Fibonacci extension levels and the next cycle of growth.

The broader takeaway from Egrag Crypto's work is something worth remembering - market structure is what ultimately matters for long-term price movement. It's not about the daily noise or weekly swings. It's about recognizing the bigger patterns and understanding where we sit within those patterns. Whether this triple bottom plays out exactly as outlined or not, it's the kind of macro perspective that separates traders who are just guessing from those who are actually reading the chart.