XRP Holds Above $2 As Analysts Highlight Macro Structure And Retail Sentiment Shift

XRP has stabilized above the $2.20 level after a volatile start to December, with the chart showing a sharp rebound from the sub-$2 intraday drop. The recovery follows a period of aggressive selling pressure, but price action now leans toward short-term stabilization as volatility cools.

According to EGRAG Crypto, the current pullback must be viewed through a high-time-frame lens rather than a short-term emotional swing. He emphasizes that weekly and monthly closes above $2 remain structurally important, and even a temporary wick below $2 would not automatically invalidate the macro bullish trajectory.

The analyst argues that time-based capitulation has likely pushed retail into panic selling, while the underlying structure, specifically the A-B-C corrective pattern and the measured move of the W-pattern, continues to support a future upside extension.

Macro Signals Analysts Are Watching

EGRAG highlights several macro signals forming simultaneously. Line-chart momentum suggests that the broader trend is still angled upward, even if candlestick volatility hides the slope. The thesis remains centered around a potential Wave 5 expansion, which requires higher-time-frame confirmation rather than intraday strength.

He adds that this phase is designed to test conviction, not reverse the longer-term outlook. The analyst notes that markets in past cycles have pushed XRP to levels many dismissed before major breakouts, a pattern he believes may be repeating.

In a separate commentary, EGRAG compares today’s sentiment with August 2023, when XRP was trading near $0.50 before eventually breaking above $3. At that time, heavy criticism and disbelief were widespread, which he sees mirrored now as investors doubt the possibility of double-digit targets. He argues that the loudest bearish reactions often appear near the end of deeper consolidations, while long-term holders historically outperform short-term skeptics.

Community Psychology And Sentiment Dynamics

Retail sentiment remains highly reactive, with many traders flipping bearish after each pullback, while others hesitate to publicly support bullish views. EGRAG points out that social pressure has become a powerful factor; large accounts avoiding reposts out of fear of criticism highlights how sentiment cycles can shape market narratives.

The analyst frames patience as a competitive advantage, stating that short-term bears may sound convincing during corrections, but long-term bulls typically win over multi-year horizons. The message echoes a broader theme: staying calm, maintaining conviction, and interpreting high-time-frame structure outweigh emotional reactions to brief volatility spikes.

Outlook For The Coming Weeks

XRP’s resilience above $2 keeps the macro range intact. As long as higher-time-frame levels continue to hold, the bullish technical roadmap remains valid. EGRAG reiterates that the market is in a phase meant to filter noise and prepare for a potential continuation move, one that aligns with the broader Elliott Wave structure he tracks.

With price currently hovering near $2.20 and sentiment mixed, XRP traders face a familiar setup: skepticism in the short term, long-term optimism from analysts, and a structure that continues to lean bullish unless high-time-frame support definitively breaks.