Expert Says This Is the Chart That Takes XRP 1,321% to $27

An analyst has continued to reiterate the possibility that XRP would rally to unprecedented prices despite the recent correction.

Market expert EGRAG Crypto has remained bullish on XRP even amid uncertainty. The asset is below the crucial $2 support level, with CoinMarketCap showing an 11.8% correction in the past 30 days. However, EGRAG has shared a whole new perspective on the ongoing retracement.

A Storm Before the Calm?

In his December 18 tweet, he stated that “this is the chart.” While this may sound vague, an accompanying chart paints the whole picture.

Per the chart, the current XRP retracement may be a necessary step before the next explosive price move. It shows the cryptocurrency consolidating downwards to retest after breaking out of an ascending triangle.

For perspective, XRP trended within the triangle for over six years from its 2018 all-time high of $3.84 until a breakout in November 2024. After that, it surged to its July high of $3.66 before correcting to enter the current distribution phase.

Notably, a section of the graph explained that triangle breakouts typically lead to a retest, followed by a bullish continuation. As a result, the recent downtrend aligns with an XRP retest of the resistance neckline. Notably, a successful move would confirm its next impulsive uptrend.

Two XRP Retest Scenarios

Meanwhile, EGRAG shared two possible retest scenarios, both of which have bullish implications. The first scenario is if it retests and bounces from a former resistance level at $1.83, which lies close to its December 2017 closing price.

XRP broke above this level in late November and ended the year above it, turning it into a key support area. At the current market price of $1.91, XRP is just 3% away from this point.

The second scenario would see XRP retest the “Line of Hestia,” identified in the chart. The support trendline lies at $0.85, representing a 55% retracement from the current market price.

XRP Would Bounce After Retest

Interestingly, XRP would bounce to new all-time highs regardless of the level from which it recovers. The analyst highlighted possible price targets for XRP, drawing context from three different length points in the ascending triangle it broke out from.

According to the chart, the first target is a 95% rally to $3.72. Notably, the second target lies at $9, which would mark a new all-time high for XRP. From the current market price, it represents a 373.6% increase.

Ultimately, the analyst is predicting a double-figure valuation of $27, which is the full length of the triangle at its highest price. This marks a 1,321% growth from its current price.