XRP Could Build Toward $23 Despite October Weakness, EGRAG’s Chart Suggests

In Brief:

• EGRAG highlights XRP’s historically weak October returns but argues consolidation could resemble the base preceding its major rally in 2017.
• His chart compares recurring bottom formations across market cycles, placing XRP’s potential upside near $23 through a Fibonacci extension level.
• The $23 projection remains conditional, as EGRAG provides neither a deadline nor an exact price that would invalidate his analysis.

Crypto analyst EGRAG CRYPTO projects a potential $23 XRP target, arguing that October weakness could fit a broader base-building pattern. In his recent analysis on X, EGRAG compared XRP’s monthly structure with the setup preceding its major 2017 expansion.

According to EGRAG, his assessment combines October returns, consecutive positive monthly candles, and Fibonacci extensions, with eight negative Octobers across 13 observations representing 61.5%. Meanwhile, five positive Octobers account for 38.5%, whereas six of seven Octobers following positive Septembers ended lower, representing 85.7%.

However, EGRAG compares XRP’s positive July, August, and September candles with an earlier recovery sequence preceding consolidation and the 2017 expansion. Consequently, a negative October would not automatically undermine his interpretation, provided consolidation remains compatible with the larger chart structure.

Also Read: XRP Sentiment Hits Lowest Level Since August Despite September Rally

Repeated Bottom Formations Shape EGRAG’s Conditional $23 XRP Projection

EGRAG’s monthly chart marks recurring troughs, including a double bottom around 2019–2020 and additional formations across subsequent market cycles. Blue annotations outline these patterns, while shaded Fibonacci grids compare extension levels across three stages of XRP’s price history.

Additionally, a rising turquoise line carries an 111-month moving-average label, providing a long-term view. EGRAG states that XRP reached the 2.236 Fibonacci extension during its first cycle but missed the equivalent second-cycle level.

The second cycle’s approximately $20 figure represents an unreached technical objective, rather than a price XRP actually recorded. His current framework places the equivalent extension near $23, which his accompanying post identifies as the principal upside projection.

Why the $23 Target Remains Conditional

However, the target depends on the selected Fibonacci anchors, and the supplied image lacks sufficient detail to reproduce that calculation. Furthermore, blue paths and yellow candles extending beyond October 2026 illustrate hypothetical future movement rather than completed trading activity.

EGRAG provides neither an exact invalidation price nor a deadline, leaving the scenario dependent on how XRP’s structure develops. His analysis therefore treats October weakness as potentially compatible with consolidation, while presenting $23 as an eventual possibility without guarantees.

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