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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.
Particularly, $XRP witnessed a massive 802% increase from March to May 2017. However, after hitting a peak of $0.3988, the asset faced intense resistance, leading to a correction. This correction resulted in the formation of the symmetrical triangle, which lasted for six months.
However, data confirms that as $XRP recorded a breakout above the upper trendline of the triangle, its price skyrocketed. Specifically, the altcoin surged from a price of $0.2349 to an all-time high of above $3.8 in December 2017. This marked an explosive 1,517% increase post-breakout.
EGRAG believes the current market dynamics mirror this run. For context, $XRP has already recorded an impressive initial run, soaring 580% from $0.5 in November 2024 to a seven-year high of $3.4 in January 2025. However, like in 2017, $XRP faced resistance at the $3.4 top.
Now, $XRP is witnessing a pullback similar to what it recorded from May to November 2017. This has led to the formation of another symmetrical triangle. EGRAG expects a breakout from this triangle to trigger another explosive run.
$XRP Could Target $27
$XRP has already set three targets for $XRP, leveraging Fibonacci extension levels. The first target is $8.5 and rests on the Fibonacci 1.272 extension, marking a new all-time high for $XRP. Meanwhile, the second target, $13.7, syncs with Fib. 1.414.
EGRAG’s third target lies at the pivotal 1.618 Fibonacci extension, aligning with the $27 price target. Interestingly, the 2017 symmetrical triangle breakout allowed $XRP to reach the Fibonacci 1.618 extension, which aligned with $3 during that period. Now, the 1.618 extension syncs with $27.
“And you wonder why I am so bullish,” EGRAG quipped upon sharing his findings. The analyst had projected a massive run to this $27 mark in the past, citing different factors. For instance, last month, EGRAG suggested $XRP could hit $27 following a retest of the Bull Market Support Band (BMSB).
Last December, the analyst pointed to a structure he called the Biforst Bridge in an attempt to make a case for $XRP to $27. Currently, $XRP changes hands at $2.10, a rally to $27 would demand a 1,015% increase from the current value.