A prominent market analyst says he now firmly believes XRP is following its 2017 fractal, suggesting it could soar to a three-digit price from his initial target.
This commentary came from EGRAG Crypto, a seasoned analyst, and XRP permabull. Notably, the analyst had persistently suggested that XRP could be following its 2017 pattern, which saw it soar to the $3.8 all-time high price by January 2018.
However, his latest analysis indicates that he is now more convinced that this pattern is playing out nicely. For context, the 2017 price action saw XRP soar 6,319% from $0.0062 in March 2017 to an initial peak of $0.3988 in May 2017. After this run, XRP saw a pullback and consolidation before resuming the upsurge to hit $3.8 in January 2018.
XRP Following 2017 Fractal?
Interestingly, it appears the asset is following this fractal, having surged 578% from $0.5 in November 2024 to $3.39 in January 2025. Like in 2017, this initial surge met resistance, leading to a pullback, with XRP consolidating within a range for three months now.
With this recent price action, EGRAG now firmly believes XRP is repeating the 2017 price movements. This suggests that another leg up might be on the horizon. However, in his commentary, the market analyst admitted that while XRP could follow the 2017 fractal, it might face a delay or acceleration in the timing.
Further, data from his chart shows that XRP is currently trading within a 5-wave Elliott Wave structure. For context, the asset began this structure last November, with the rally to $3.39 in January 2025 aligning with the end of Wave 1.
Meanwhile, the correction from this $3.39 peak pushed XRP to Wave 2, with the altcoin currently trading within this wave. EGRAG’s chart indicates that the third wave, which would begin when XRP engineers a rebound push from this correction, could lead to substantial gains.
EGRAG Sees XRP Surpassing $27 to $120
According to EGRAG’s chart, Wave 3 could end with XRP reaching a target of $27 this summer (between June and September 2025). Interestingly, the market analyst has consistently championed this $27 target, citing varying catalysts. Last December, he suggested XRP could reach this price once its 21 EMA crosses above what he called the Break of Structure (BOS).
However, EGRAG’s latest commentary suggests the $27 mark is not his ultimate XRP target. The chart shows XRP could potentially collapse from the $27 mark to as low as $5 during the fourth wave. According to him, this fourth wave would play out over the next three years, leading to a bear market.
Nonetheless, a recovery would ensue with the fifth and last wave. His chart suggests this fifth wave could push prices beyond the $27 peak to a new all-time high of $120. Notably, the $120 ambitious target would mark a massive 5,072% increase from the current XRP price of $2.32. Interestingly, at $120, XRP’s market cap would soar to around $7 trillion.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
