XRP traders are closely watching a decisive pattern forming on the weekly chart as analyst EGRAG CRYPTO outlines two contrasting scenarios that could define the token’s next major move.
While some long-term holders remain unfazed by short-term fluctuations, active traders are paying attention to what could become a pivotal breakout moment.
EGRAG’s latest analysis highlights a Descending Broadening Wedge, a technical pattern that historically suggests an upcoming breakout. According to his data, XRP currently sits near $2.48, following a modest correction from the $2.60 area. The pattern indicates a 57% probability of breaking upward and a 43% chance of a downside move, setting the stage for a potential surge – or a sharp retest of lower levels.
A Split Outlook: 57% Up or 43% Down
If the bullish side plays out, XRP could target the $9 region, marking the upper boundary of the measured move. Conversely, a bearish resolution could send the token back toward $0.50. EGRAG notes that traders unwilling to handle volatility may prefer to step aside now and reenter later, while those with a longer horizon might choose to ride out the swings.
He also shared that the wedge pattern surprised him by extending lower than initially expected, leading to a liquidation on a leveraged trade – a reminder of the risks associated with margin positions. Still, EGRAG emphasized that his strategy does not involve teaching or promoting leverage, focusing instead on identifying high-probability setups.
Comparing Past Cycles
Looking at previous market cycles, EGRAG pointed out that XRP’s 2021 rally delivered gains of roughly 1,700% from its cycle low. So far in this current phase, the increase sits around 1,160%. He questioned whether XRP could truly underperform the last bull run by over 500%, especially given the stronger market narratives and renewed institutional interest.
If the asset were to mimic the 2021 percentage gains, EGRAG suggests a potential peak around $5.20, though he personally plans to reassess his position near $5 before targeting even higher valuations. His broader outlook includes an average target of $20 and a high-end scenario near $27, should bullish momentum sustain through the cycle.
“I’m Not Selling Yet”
EGRAG reiterated that he has no intention of selling at current levels, even if the market turns volatile again. He argued that if XRP fails to outperform after multiple years of consolidation, it would indicate the market cycle has fundamentally changed. Drawing comparisons, he referenced Solana’s rise from $8 to $300 and Bitcoin’s surge from $15,000 to $126,000, underscoring how other assets have already experienced dramatic expansions this cycle.
For EGRAG, the strategy remains clear: hold through uncertainty and focus on long-term growth rather than short-term fear. He plans to continue updating his private subscribers with deeper insights, while reminding the community to stay grounded.
“Markets come and go, money can always be made again,” he concluded. “What matters is keeping a clear head and sticking to your plan.”
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-price-outlook-analyst-sees-57-chance-of-breakout-toward-9/