A popular crypto market analyst, EGRAG Crypto, has identified a significant breakout pattern forming on the XRP chart. The monthly chart filters short-term market fluctuations and indicates that XRP may be entering a critical phase based on repeating historical behavior.
According to EGRAG Crypto, XRP makes significant moves after falling below the 21 Exponential Moving Average (EMA). This trend has repeated across multiple market cycles, with the current setup mirroring the early stages of previous bullish breakouts.
In the first identified cycle, XRP dropped below the 21 EMA and continued to fall by approximately 5500 percent. After this significant decline, it rebounded to reclaim the 21 EMA before experiencing another sharp drop of 2500 percent.
The second cycle followed a similar structure but with smaller movements. XRP first dropped below the 21 EMA, then declined by 150 percent. It later retraced to the moving average and subsequently dropped again by 500 percent.
Currently, XRP is showing early signs of repeating this historical behavior. The asset has already dropped below the 21 EMA and appears to be in the phase of retracing back toward it. EGRAG notes that if XRP remains above the $2 range, the EMA could decline to meet the price, potentially triggering the next major move.
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Analyst Forecasts Potential Targets Based on Historical Trends
By examining the outcomes of earlier cycles, EGRAG has estimated potential price levels for XRP if the current breakout pattern is completed. If the move follows the structure of the first major rally, XRP could rise as high as $46, while repeating the second less intense cycle would place the target near $12.
To provide a balanced outlook, the analyst calculated the average of those previous gains. With a combined growth projection of around 1500 percent, the estimated price is approximately $30. However, Egrag set his target slightly lower, at $27.
The analysis is grounded in technical data without leaning on speculative claims. It offers insight into how XRP may behave if current patterns stay consistent with historical market behavior. The outlook highlights the importance of long-term trend observation in volatile markets.
A breakout pattern could soon be confirmed as XRP approaches the 21 EMA on the monthly chart. While the price target is still uncertain, historical patterns provide a basis for cautious optimism among investors.
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