A notable market analyst suggests XRP could reach an audacious double-digit price, citing a historical symmetrical triangle pattern and Fibonacci extensions.
This bullish commentary came from market watcher EGRAG Crypto, who has maintained his optimism around XRP despite the current price struggles. For context, at the current price of $2.10, XRP has dropped nearly 38% from the yearly peak of $3.4 attained in mid-January.
XRP Slips into Symmetrical Triangle Structure
Amid the bearish price movements, EGRAG shows that XRP has slipped into a historically important symmetrical triangle. Notably, before now, XRP had entered into a similar structure from May 2017, during the bull run at that time.
In 2017, XRP witnessed a dramatic 802% increase from March to May, climbing to a peak of $0.3988 before encountering intense resistance that resulted in a correction. This downturn initiated the formation of a symmetrical triangle pattern that lasted for six months.
Data reveals that once XRP broke above the upper trendline of that triangle, the asset surged significantly. Specifically, it skyrocketed from a price of $0.2349 to set an all-time high exceeding $3.8 in December 2017, which marked a jaw-dropping 1,517% increase following the breakout.
EGRAG believes the current market dynamics replicate those seen during that critical bull run in 2017. For context, XRP has already had a significant initial rally, surging 580% from $0.5 in November 2024 to a seven-year high of $3.4 in January 2025. Like in 2017, however, XRP confronted resistance at the $3.4 peak.
Similar to the patterns observed from May to November 2017, XRP is currently witnessing a pullback that has led to the formation of yet another symmetrical triangle. EGRAG postulates that a breakout from this structure could trigger a fresh wave of explosive price action.
XRP Could Target $27
EGRAG has identified three key price targets for XRP, leveraging Fibonacci extension levels to outline potential future price action. The first target sits at $8.5, resting on the Fibonacci 1.272 extension, which would mark a new all-time high for XRP.
The second target is set at $13.7, aligning with the Fibonacci 1.414 level. The most audacious target, however, is at $27, grounded in the Fibonacci 1.618 extension. Intriguingly, during the 2017 symmetrical triangle breakout, XRP reached the Fibonacci 1.618 extension, which was pegged at $3 at the time. Now, the equivalent extension corresponds to $27.
“And you wonder why I am so bullish,” EGRAG quipped while sharing his insights. He had also previously projected a massive run leading up to this $27 mark, considering multiple influencing factors. For instance, last month EGRAG indicated that XRP could reach $27 following a retest of the Bull Market Support Band (BMSB).
In December of the previous year, EGRAG had also referenced a unique structure he coined the “Bifrost Bridge” to support his assertion regarding XRP’s potential to hit $27. Currently, as XRP trades around $2.10, a rally to $27 would require an astounding 1,015% increase from its current value.
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.
