A well-known analyst believes XRP could ride on a bullish historical pattern to loftier targets, insisting that patterns repeat, but most tend to ignore them.
This commentary came from EGRAG Crypto, an XRP permabull who has persistently called for an imminent XRP price run this bull cycle. In his latest analysis, the market watcher took a more condemnatory approach, criticizing other analysts who have instead projected much lower targets for XRP.
“Patterns Repeat, But You Keep Ignoring It”
EGRAG claimed these lower targets breed confusion among market participants, especially as he has persistently noted that past trends point to higher prices. According to him, these past patterns have continued to leave clues of an impending explosive XRP surge, but many keep ignoring it.
He insisted that he is not overlooking these clues. Interestingly, his latest analysis contains one such clue from historical patterns, pointing to a potential rally for XRP toward the $15 to $33 price range.
According to him, historical data confirms that XRP has always formed an ascending triangle during the last phase of every cycle. Specifically, the ascending triangle takes shape during a consolidation phase following an initial uptick in price.
XRP Repeating Historical Ascending Triangle Pattern
EGRAG suggested that when this triangle forms during the post-rally consolidation, it indicates that the market is witnessing a period of re-accumulation before engineering the last explosive run. When it’s time to run, XRP often breaks above the triangle’s upper trendline, corrects to retest the breakout before exploding to new ATHs.
Data from the chart shows that this pattern occurred in 2017 and 2021. Specifically, in 2017, XRP first surged from $0.005 in March to a peak of $0.3988 in May 2017. However, after this initial rally, it slipped into consolidation, forming the ascending triangle. Interestingly, when it broke out in November 2017, it corrected to retest the breakout before soaring to a new ATH of $3.3 in January 2018.
A similar trend occurred during the 2020/2021 run. Notably, XRP initially soared from $0.24 to $0.44 in November 2020 and then entered a consolidation phase, forming the ascending triangle. It broke out in March 2021, dropped to retest the breakout, and then soared again to the $1.96 peak in April 2021.
In the current cycle, XRP witnessed the initial surge when it rallied from $0.5 in November 2024 to $3.4 in January 2025. Since then, it has faced bearish pressure, consolidating within the ascending triangle. EGRAG’s chart indicates that XRP still trades within this triangle, but a breakout is imminent.
XRP Targets $15 to $33
According to the market analyst, the 2017 breakout led to a 350% surge to $3.31 while the 2021 breakout resulted in a 110% rise to $1.96. He believes XRP could take any of these paths. Notably, if XRP repeats the 2021 run, it would rise 110% from the breakout point to $15. Nonetheless, if it follows the 2017 fractal, it could soar 350% to $33. He branded November 27 as his start point.
However, EGRAG also called attention to the Bull Market Support Bond. For the uninitiated, this is an important level XRP needs to maintain for the pattern to hold. Each time the ascending triangle pattern has played out, XRP has held above the BMSB except for a fakeout that occurred in 2020 when the SEC sued Ripple.
He insists that XRP must maintain the support at the BMSB, which currently sits at around $2.7, while XRP trades for $2.75. Even with this, EGRAG confirmed that 57% of the time, ascending channels break down, only breaking up 43% of the time. He believes this is one of the factors behind the current investor angst.
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.
