- Egrag Crypto says XRP is printing a potential bullish reversal candle on the 2-week chart.
- Price is still holding within a descending broadening wedge, with the lower trendline acting as key support.
- If support holds, XRP could rotate toward the wedge’s upper boundary (~$3.50 area), but a breakdown would invalidate the bullish setup.
Crypto analyst Egrag Crypto has highlighted what he describes as a potentially bullish technical setup for XRP, pointing to classic reversal candlestick formations and a still-intact descending broadening wedge pattern on the 2-week timeframe. In his latest update, the analyst argues that “structure > noise,” suggesting that despite recent volatility, XRP’s broader chart formation remains technically constructive.
Hammer or Dragonfly Doji on the 2-Week Chart
According to Egrag Crypto, the current 2-week candle — at the time of his post, closing within hours — is shaping into either a Hammer or a Dragonfly Doji. Both candlestick patterns are widely regarded by technical analysts as classic reversal signals when they appear after a downtrend. A Hammer forms when price dips significantly during the period but buyers step in aggressively, pushing the close near the opening level.
A Dragonfly Doji reflects a similar dynamic, with a long lower wick and minimal upper shadow, signaling strong rejection of lower prices. In his accompanying analysis, XRP’s recent price action shows a pronounced lower wick forming near the lower boundary of a larger wedge structure. This visual supports the idea that buyers are defending the lower trendline rather than allowing a breakdown.
Descending Broadening Wedge Still Intact
Beyond the candlestick formation, Egrag’s analysis centers on a Descending Broadening Wedge, a pattern characterized by diverging trendlines sloping downward.
In the shared chart, the upper and lower green trendlines form a widening structure, with price repeatedly bouncing between the two. XRP is currently reacting near the lower boundary of this wedge, a zone the analyst views as critical support.
Also Read: Alert: The Last Time This Happened, XRP Crashed 46%
#XRP – Descending Broadening Wedge (Update):
On the 2-week timeframe, the current candle (closing in ~16 hours) is shaping into either a Hammer ⚒️ or a Dragonfly 🐉Doji.
👉Both are classic reversal candles when they appear after a downtrend.
Add to that:
▫️ The Descending… https://t.co/zGhHHznrUo pic.twitter.com/JWXVOddqiy
— EGRAG CRYPTO (@egragcrypto) February 15, 2026
Importantly, price has not broken below the structure. Instead, it appears to be respecting the lower trendline, reinforcing the argument that the overall bullish setup remains valid “until the market proves otherwise,” as Egrag stated.
Key Levels and Short-Range Targets
Egrag Crypto also outlines percentage projections tied to the wedge structure. A 57% move is marked toward the upper boundary, suggesting a potential upside reaction if price rotates back toward resistance. On the downside, a 43% range is highlighted as the broader structural depth of the formation.
A key near-term level shown on the chart sits around the $1.19 area, where the price recently reacted. Above, a red horizontal marker near $3.50 appears to represent a significant resistance zone aligned with the upper wedge boundary.
If XRP confirms the reversal candle and maintains support above the lower structure, a move toward the mid-range and potentially the upper trendline could unfold in the short to medium term. However, a decisive break below the wedge would invalidate the current bullish thesis.
Moving Averages and Market Context
Egrag’s chart also displays two moving averages converging near current price levels, indicating compression and potential volatility expansion. XRP’s reaction around these averages could further confirm whether buyers are regaining control.
On the other side, a “Bullish” panel highlights single-candle reversal patterns — including the Hammer, Inverted Hammer, Dragonfly Doji, and Bullish Spinning Top — reinforcing the analyst’s focus on candlestick confirmation.
“Structure > Noise”
Egrag Crypto’s core message emphasizes focusing on the broader technical structure rather than short-term market fluctuations. With XRP holding the lower boundary of a descending broadening wedge and printing a potential reversal candle on the 2-week chart, the setup remains technically bullish for now.
The coming candle close and follow-through price action will likely determine whether this structure leads to a sustained upside move or whether bears regain control. For traders watching XRP closely, the lower wedge boundary may now serve as the defining line between continuation and breakdown in the weeks ahead.
Also Read: Bitcoin, XRP, and SOL Slide as Altcoins Suddenly Explode Higher
