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A well-known analyst has identified an extended target for $XRP, further sharing where market participants could consider taking profit.
Despite the occasional bullish developments, the $XRP price has not recorded the much-needed explosive run. These developments have included progress on $XRP ETFs, inclusion of $XRP in a U.S. strategic stockpile and the SEC’s decision to drop its appeal against Ripple.
While bullish sentiments have sprung up with these developments, $XRP has failed to breach the resistance level of around $2.6 to $2.8. However, analysts like EGRAG Crypto are confident that when a breakout occurs, the impact could be exceptional.
$XRP Retesting Triangle Breakout
EGRAG stressed this in one of his recent analyses, bringing up what he called an “extended target” for the asset once it transcends this range-bound phase. His chart identified what appears to be an unconventional ascending triangle pattern on the weekly chart.
Specifically, the triangle features a flat upper trendline, indicating resistance around the $2 psychological level, and an upward-slanting lower trendline showing higher lows. Notably, while $XRP observed higher lows, the resistance at the upper trendline hindered a breakout for nearly seven years.
The asset attempted to breach this resistance in April 2021 but observed a roadblock at $1.96. Interestingly, the next attempt came up in November to December 2024, during which $XRP surpassed the $2 psychological mark. This allowed it to breach the upper trendline’s resistance.
However, EGRAG’s chart shows that the recent pullback from the January 2015 high of $3.4 is an attempt to retest the triangle breakout. Once this retest is complete and $XRP maintains a position above $2 and the upper trendline, an explosive run could occur.
$XRP Breakout Targets and Profit-Taking Zone
The analyst has presented multiple targets for when this explosive rally materializes, with the conservative target coming in at $15. This represents the lowest target for this run, demanding a 514% increase from the current $XRP price. The next target, which comes from a normal measurement of the breakout, rests at $22.
Meanwhile, EGRAG’s personal target for the run has always been $27. Last December, EGRAG presented this $27 target following a breach of what he calls the Break of Structure (BOS). In January 2025, he also predicted a run to $27, citing a “Megaphone” pattern.
However, for this analysis, the market analyst believes $XRP has the potential to surpass his personal target of $27. Accordingly, he revealed a more substantial “extended target” of $44, representing a massive 1,703% increase from current levels.
Despite his ambitious targets, EGRAG suggested that investors take profit to the top. According to him, market participants can start taking profit once $XRP reaches $5 and then continue until the $9 mark. Currently, $XRP changes hands at $2.44, up 1.12% over the past 24 hours.