2025-4-9 23:25 |
Despite a relatively calm market and XRP trading within a descending triangle that has persisted for weeks amid bearish pressure, the token may be gearing up for a major breakout, according to popular crypto analyst Egrag Crypto.
In a detailed analysis, Egrag predicted that XRP could surge to as high as $27 within the next six months if current technical patterns continue to play out, further suggesting a repeat of its 2017 bull run.
“The Kangaroo will jump,” the pundit tweeted Sunday, referencing what he calls the current “Kangaroo Phase” or a period of consolidation before an expected breakout. Notably, the analyst highlighted striking similarities between the March 2025 candle formation and October 2017’s patterns, suggesting history may be preparing to repeat itself.
“The monthly candle in November 2017 ranged before the explosive growth in December 2017 and January 2018. If this pattern holds true, and I’m right about the candle formations rhyming, double digits are on the horizon,” Egrag stated.
Central to the prediction is XRP maintaining support above the $2 support area, which he described as “the safest foundation” and the trigger for the “FOMO stage and ignition phase.” The analyst further outlined three Fibonacci targets, including $7.50, $13.70, and ultimately $27.30, each aligning with Fibonacci expansion levels.
“The next 3-6 months are crucial and decisive for many of us” Egrag concluded, emphasizing the critical timeframe for this potential price movement.
This isn’t the first time EGRAG has voiced a bullish outlook on XRP. Last month, he referred to the price range between $2.00 and $3.40 as “noise,” indicating that the current consolidation phase reflects healthy price action rather than weakness. According to the analyst, as long as XRP stays within this range, the conditions remain favorable for a potential breakout, with targets reaching from $27 to as high as $222.
However, analysts are facing a bit of uncertainty, as several factors, such as the U.S. announcing crypto holdings, the SEC’s comments on the Ripple case, the growing interest in RLUSD, rumors of a BlackRock ETF, and increasing XRP utility globally, haven’t been enough to sustain XRP’s bullish momentum. As a result, attention has shifted to the $2 support level, which is now being closely monitored.
On Saturday,analyst AMcrypto underscored the importance of this level stating, “XRP is holding its $2 support level pretty well. It’s one of the few altcoins that didn’t drop below February’s capitulation price. For upside, it needs to break above the $2.30 level; otherwise, the consolidation will continue.”
On-chain data from Santiment further supports the bullish sentiment, showing that over 70% of Binance traders holding open XRP futures positions are betting on a price increase.
XRP traded at $2.06 at press time, reflecting a 3.10% drop in the past 24 hours.
origin »Ripple (XRP) на Currencies.ru
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