Egrag Crypto to XRP Holders: This Setup Could Be One of the Biggest Bear Traps

According to crypto analyst EGRAG CRYPTO (@egragcrypto), XRP entered June at a critical technical level. His latest chart places the asset at a major decision point where a move back above key trend indicators could transform current bearish sentiment into what he calls one of the largest bear traps of the cycle.

The analysis centers on XRP opening the month below its 50 EMA while sitting on a long-term macro support line that has influenced price action for years. With June historically producing weak performance during midterm years, the coming weeks could prove decisive for the asset’s next major move.

#XRP – June Open Below the 50 EMA & Breaking⚠️:

This is where things get very interesting.

🏳️Historically, when #XRP opens the month BELOW the 50 EMA during macro compression phases:
➡️ sentiment turns extremely bearish,
➡️ traders expect continuation lower,
➡️ but structure… pic.twitter.com/GOYfFGROWZ

— EGRAG CRYPTO (@egragcrypto) June 1, 2026

June Opens at a Critical Technical Level

EGRAG CRYPTO noted that XRP has started June below the 50 EMA during what he describes as a macro compression phase. According to his historical observations, similar conditions often coincide with extreme bearish sentiment as price begins forming a bottoming structure.

The monthly chart shows XRP trading near $1.29, directly around the white macro trend line that has acted as support through multiple cycles. Several previous touches of this trend line, highlighted on the chart, preceded substantial advances.

His zoomed-in chart focuses on the interaction between XRP’s price, the trend line, and a descending yellow resistance line that forms a falling wedge pattern. XRP remains compressed within that structure as monthly candles continue to narrow.

Historical June Performance Adds Context

EGRAG also highlighted XRP’s June performance during previous midterm years. The data he shared shows XRP declining 17% in June 2014, 39% in June 2018, and 32% in June 2022. With June 2026 now underway, he raised the question of whether the pattern will repeat.

In his assessment, sentiment remains heavily bearish as XRP trades below both the macro trend line and the 50 EMA. However, his chart suggests the current weakness may be occurring at a location that has historically attracted buyers.

What to Expect from XRP

The chart identifies $0.90 to $1.30 as the primary battleground. The lower boundary sits near a major support zone, while the upper boundary coincides with the trend line and the 50 EMA region that XRP needs to reclaim. The falling wedge resistance remains another obstacle that bulls must overcome.

EGRAG stated that “until we break out from the yellow falling wedge, then bottoming is forming.”  If that happens, he believes the current setup “could become one of the biggest bear traps of the cycle.”

The larger chart also includes Fibonacci extension targets above current prices, with projected levels extending toward $5.16, $6.27, $8.28, and $13.95 if a sustained breakout develops.