- Chart signals XRP forming breakout pattern targeting potential $20 surge.
- Analyst compares XRP cycles, hinting at strong bullish momentum.
- Technical indicators align, forecasting major XRP rally in next phase.
A new technical chart shared by EGRAG CRYPTO is fueling speculation that XRP could be on the verge of a significant breakout. According to the analysis, the token’s current formation points to a strong upside move, with projections suggesting a potential rise to the $20 range in the coming market cycle.
The chart highlights a symmetrical triangle pattern that has been forming for several years. Price action has steadily compressed within this formation since 2018, building up pressure for a decisive move.
Technical patterns of this type often precede sharp movements, and in this case, the analyst indicates that an upward breakout is likely.
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According to EGRAG CRYPTO, historical cycles offer crucial insight into what could follow. During the 2017 market cycle, XRP reached extreme highs that, if replicated, could push the asset toward the $33 mark.
In the 2021 cycle, XRP recorded a smaller rally, which would point to a more conservative estimate near $7.70.
Source: EGRAG CRYPTO
Historical Patterns Strengthen Bullish Price Forecast
Averaging the peaks from these two cycles brings forward a possible target of around $20 for XRP. The chart suggests that this price level is not only technically significant but also supported by historical market behavior. Fibonacci extensions applied to the breakout area also reinforce this projected zone.
Additionally, the analysis notes that XRP has not yet achieved the full potential of past measured moves. This implies the possibility of a delayed reaction or a broader market surge that could trigger a stronger rally. The breakout, if confirmed, may come after a brief pullback, a move that often strengthens the momentum of the following trend.
With the symmetrical triangle narrowing and historical data suggesting a steep climb, eyes are now on XRP’s next move. The technical setup indicates a window for rapid price appreciation, supported by the broader market context and investor sentiment.
XRP appears to be approaching a critical technical point, with chart signals aligning for a major breakout. The possibility of a surge toward $20 is drawing attention, as past trends and technical patterns come together to form a compelling outlook.
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