XRP Completes Mini AT, Poised to Hit $4.5 If History Repeats Itself

Crypto analyst EGRAG believes XRP is repeating a pattern it observed from late 2020 to early 2021, projecting an ultimate 783% increase to a $4.5 high.

EGRAG disclosed this in an analytical post on X. He called attention to two types of ascending triangles (AT): the Mini Ascending Triangle, which demonstrates a small rally, and the Mega Ascending Triangle, which represents a massive rally.

He designates the Mini AT with a white color and the Mega AT with a blue color. Per his assertions, the Mini AT typically occurs before the Mega AT. However, after the Mega AT completes, XRP then stages an impressive rally (represented in green) even greater than the gains of the Mega AT.

The Road to $1.9669

His charts show that this pattern occurred from November 2020 to April 2021. However, the chart does not show the formation of the Mini AT in 2020. Notably, XRP formed the Mega AT when it soared to $0.7900 on Nov. 24, 2020. 

Nonetheless, it faced a correction after the completion of the Mega AT, collapsing to a low of $0.1700 on Dec. 29, 2020. Interestingly, this correction coincided with the SEC’s lawsuit against Ripple.

Following the correction, the asset staged a massive rally (represented in green), surging to a high of $1.9669 on April 14, 2021. 

XRP Following a Similar Pattern

EGRAG thinks this pattern is playing out again in this cycle. According to the charts, XRP completed the Mini AT when it rallied to $0.93 on July 13 on the heels of the lawsuit victory. However, as in the past, the asset faced a correction that has lingered till now.

Note that XRP formed a multi-year downtrend when it dropped from the high of $1.9669 in April 2021. The asset broke this downward trendline during the July 13 rally. However, amid the correction from the July 13 top, XRP retested the trendline and is now looking to continue the historical pattern.

The analyst believes the next path for XRP is the formation of the Mega AT. He puts a target of $1.5 for when XRP completes the Mega AT. Following the Mega AT, he believes the massive rally (represented in green) will ensue, with an ultimate target of $4.5. 

XRP is changing hands at $0.5095 as of press time, down 2.27% over the last 24 hours. Skyrocketing to $4.5 from this point would require a 783% rally. EGRAG noted that he is not projecting any timeline for this target, just the roadmap.