XRP may be preparing for another historic price breakout, according to analyst EGRAG, who believes the token is moments away from igniting a 600% rally.
XRP’s initial uptrend momentum has momentarily stalled over the past few days, as the coin continues to consolidate above $3. Today, the price has even dipped by over 5%, trading at $3.15 at press time.
Meanwhile, savvy market watchers like EGRAG are spotting cues for the next historic price movement. According to him, the trigger would be a strong close above what he calls the “Bifrost Bridge,” a resistance zone that has capped XRP for over 240 days.
The Bifrost Bridge: XRP’s Final Barrier Before Liftoff
In a chart shared with followers, EGRAG highlighted a long-term trend channel dubbed the Bifrost Bridge. Notably, this marks a zone of historical resistance that XRP has tested for more than 242 days.
According to his analysis, XRP has been stalling beneath this level, but a decisive close above it could initiate a parabolic move toward $27. EGRAG notes that once this barrier is cleared, XRP could gain over 600% in what he calls a mega pump.
Amid the long wait for the widely teased lofty prices, EGRAG urges the XRP community to “hold steady and strong,” promising that “Soon We Shall Fly So High.”
$4–$15 Still in Play: Other Analysts Agree
EGRAG’s explosive target is not without support. Earlier this week, analyst Zach Rector forecast that XRP could hit $4 to $5 “any day now,” calling for a breakout in the short term.
His chart highlighted a consolidation structure around $3.19, with a breakout window stretching from August 23 to September 7. Beyond the $5 zone, Rector places XRP’s mid-to-long-term upside between $7 and $15.
Fibonacci Targets Add Technical Backbone
Meanwhile, Tony Edward of the Thinking Crypto Podcast shared a separate weekly chart showing Fibonacci extension levels that point to $4.50, $6, $8, and $9 as potential price targets for the coin this season.
These Fibonacci targets present a technical structure that aligns with the $15 projections shared by other analysts and may act as steppingstones on the way to EGRAG’s $27 moonshot.
Historical Surge Patterns Back $20–$30 Possibility
In previous analyses, EGRAG has also referenced XRP’s historic rallies to justify his bold upside projections. He recently pointed to a 2,600% surge in 2017 to support a $33 price target for this cycle, and a 500% surge in 2021 to argue for $7.
Averaging these, EGRAG outlined a $20 target for the current cycle, which aligns with the ongoing 600% projection.
With $3.66 as the next resistance and the Bifrost Bridge holding the key to a massive pump, XRP’s next few weekly candles may prove historic. If bulls can break and close above this zone, a swift run toward $7–$15 and potentially $27 may follow, according to these analysts.
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