XRP has shown renewed strength with a sharp intraday recovery, climbing to $2.17 after trading as low as $2.0361 earlier. The move comes amid growing confidence from market analyst EGRAG Crypto, reiterating three long-term price targets based on historical data and Fibonacci analysis.
EGRAG indicates that XRP has developed a symmetrical triangle pattern, as in 2017. XRP experienced a period of market consolidation in a triangle pattern, followed by an extensive upward movement up to $3.8.
Moreover, XRP has demonstrated a 6.89 percent growth during the last 24 hours and maintains a market cap of $126.55 billion with a trading volume of $4.25 billion as per CoinMarketCap. The momentum indicates a favorable market trend following a 38 percent decline from its January peak of $3.4.
The symmetrical triangle pattern, as highlighted by EGRAG, appears again following a 580 percent rise from $0.5 in November 2024 to the $3.4 peak earlier this year.
He believes this ongoing consolidation could be the foundation for another strong breakout. Notably, Egrag expressed his loyalty to the XRP community, stating that “XRP family, together we rise,” indicating a long-term commitment to holding the Ripple-backed token.
Source: @egragcrypto
Fibonacci Analysis Shows Possible Targets of $8.5, $13.7, and $27
EGRAG has pinpointed three key Fibonacci extension levels, defining bullish XRP targets. The first sits at $8.5, based on the 1.272 Fibonacci extension, indicating a new all-time high has been reached.
The second target at $13.7 corresponds to the 1.414 Fibonacci level, showing potential for continued upside in a breakout scenario. The most significant level is $27, which aligns with the 1.618 Fibonacci extension.
EGRAG emphasizes that the same 1.618 extension level played a major role in 2017 when XRP surged to $3. The equivalent breakout level now signals a potential rally to $27 if historical trends repeat.
He has previously referred to indicators like the Bull Market Support Band and a pattern he named the “Bifrost Bridge” to support this projection. With price action forming a similar structure, EGRAG’s analysis continues gaining traction within the XRP community.
Conclusion
At $2.17, XRP would need to rally more than 1,100 percent to reach the projected $27 mark. Investors are keeping a keen eye as the asset trades within a technical structure that has previously preceded major upward movements.
