What to Know
- EGRAG Crypto identifies a developing XRP triple-bottom formation near multiyear ascending support, suggesting a potential reversal if buyers intervene.
- XRP’s weekly chart highlights historical support formations, while the analyst acknowledges incorrect timing and warns that breakdowns threaten recovery prospects.
- XRP faces resistance near $1.40 and $2.3152, with conditional Fibonacci targets of $13, $17, and $27 requiring confirmed breakouts.
XRP could be approaching a major technical reversal as crypto analyst EGRAG Crypto identifies a developing triple-bottom formation near a multiyear support structure that has supported previous market recoveries.
According to EGRAG Crypto’s latest analysis on X, the potential third bottom is developing along an ascending trendline, with the analyst maintaining Fibonacci targets of $13, $17, and $27, depending on a confirmed reversal and subsequent breakouts. Meanwhile, XRP traded around $1.0562 on the weekly Binance chart, recording a 5.01% decline.
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XRP Triple Bottom Formation Tests Critical Multiyear Support
EGRAG Crypto’s TradingView chart highlights several historical bottom formations along XRP’s ascending support trendline, illustrating the cryptocurrency’s previous recovery patterns. Between 2020 and 2021, XRP established a double-bottom structure before forming additional higher lows during 2022–2024, supporting the analyst’s expectations for another potential recovery.
Significantly, the latest chart identifies a developing double-bottom or triple-bottom structure extending into the projected 2026–2027 period. The yellow ascending trendline connects historical support regions, while descending resistance extends from XRP’s 2018 market peak, illustrating the broader technical structure supporting the analyst’s bullish outlook.
XRP Faces $2.31 Resistance Before Potential Rally Toward $27
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Beyond the developing formation, EGRAG Crypto identified several resistance levels that could influence XRP’s recovery trajectory, including initial resistance around $1.40 and another important horizontal level near $2.3152.
A sustained breakout above these levels would strengthen the case for additional upward movement, potentially supporting the analyst’s macro Fibonacci projections of $13, $17, and $27. Reaching $13 would represent approximately 1,131% appreciation from $1.0562, while the $27 target would require an increase exceeding 2,450%, highlighting the scale of the projected recovery.
Nevertheless, EGRAG Crypto emphasized that these projections depend on confirmed bullish momentum rather than the developing pattern alone, with a weekly breakdown beneath ascending support potentially weakening the triple-bottom.
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