A vital market analyst suggests XRP may perhaps well reach an plucky double-digit mark, citing a historical symmetrical triangle sample and Fibonacci extensions.
This bullish commentary came from market watcher EGRAG Crypto, who has maintained his optimism round XRP no subject the hot mark struggles. For context, on the hot mark of $2.10, XRP has dropped nearly 38% from the annual peak of $3.4 attained in mid-January.
XRP Slips into Symmetrical Triangle Building
Amid the bearish mark actions, EGRAG exhibits that XRP has slipped valid into a historically well-known symmetrical triangle. Particularly, previously, XRP had entered valid into a an analogous building from Would possibly maybe perhaps 2017, at some stage within the bull speed on the moment.
Critically, XRP witnessed a huge 802% amplify from March to Would possibly maybe perhaps 2017. Alternatively, after hitting a peak of $0.3988, the asset faced intense resistance, ensuing in a correction. This correction resulted within the formation of the symmetrical triangle, which lasted for six months.
Alternatively, files confirms that as XRP recorded a breakout above the upper trendline of the triangle, its mark skyrocketed. Namely, the altcoin surged from a mark of $0.2349 to an all-time high of above $3.8 in December 2017. This marked an explosive 1,517% amplify put up-breakout.
EGRAG believes the hot market dynamics replicate this speed. For context, XRP has already recorded a brave initial speed, hovering 580% from $0.5 in November 2024 to a seven-year high of $3.4 in January 2025. Alternatively, like in 2017, XRP faced resistance on the $3.4 prime.
Now, XRP is witnessing a pullback an much like what it recorded from Would possibly maybe perhaps to November 2017. This has led to the formation of yet any other symmetrical triangle. EGRAG expects a breakout from this triangle to trigger yet any other explosive speed.
XRP Would possibly maybe perhaps maybe Target $27
XRP has already space three targets for XRP, leveraging Fibonacci extension ranges. The first target is $8.5 and rests on the Fibonacci 1.272 extension, marking a brand contemporary all-time high for XRP. Within the intervening time, the 2nd target, $13.7, syncs with Fib. 1.414.
EGRAG’s third target lies on the pivotal 1.618 Fibonacci extension, aligning with the $27 mark target. Curiously, the 2017 symmetrical triangle breakout allowed XRP to reach the Fibonacci 1.618 extension, which aligned with $3 at some stage in that period. Now, the 1.618 extension syncs with $27.
“And as well you marvel why I am so bullish,” EGRAG quipped upon sharing his findings. The analyst had projected a huge speed to this $27 keep within the previous, citing a range of factors. As an illustration, final month, EGRAG urged XRP may perhaps well hit $27 following a retest of the Bull Market Make stronger Band (BMSB).
Final December, the analyst pointed to a building he known as the Biforst Bridge in an strive to create a case for XRP to $27. For the time being, XRP changes palms at $2.10, a rally to $27 would inquire of a 1,015% amplify from the hot value.
