Market Expert Says XRP Now Consolidating Before the Next Big Move to $27

A well-known market commentator believes the ongoing $XRP price struggles only reflect a consolidation phase before the next big move.

Specifically, as the broader crypto market witnesses a large slump, $XRP has observed five consecutive intraday losses for the first time since June and is now on track to record a sixth losing day for the first time this year. Amid this downturn, $XRP now trades for $2.73, having lost the $3 psychological level as well as the $2.9 and $2.8 price marks.

Despite this bearish momentum, market analyst EGRAG Crypto believes an upward push is still on the horizon. Speaking in a report a few days back, EGRAG sarcastically suggested $XRP was on the brink of witnessing a price “crash.” However, in reality, EGRAG leveraged an inverted price chart to predict a possible price rally to $27.

However, after the breakout, $XRP soared to a peak of $3.4 in January 2025 before retracing and consolidating at lower levels. Despite the recent recovery to $3.66 in July, EGRAG’s analysis suggests $XRP still remains in the consolidation region, especially on the back of the latest price drawdown.

Consolidation Before the Next Big Move

Nonetheless, he believes this is merely the “consolidation before the next big move.” Data from EGRAG’s chart shows that if $XRP successfully breaks free from this consolidation, a massive uptrend could ensue. Interestingly, this uptrend would eye bullish targets aligning with the other trendlines at the upper end of the chart.

Specifically, the first trendline, which rests along the previous peak of $3.6, would mark the breakout above the consolidation phase. From here, $XRP’s next target would be the $7 price, representing a new all-time high and a 157% increase from the current position.

Notably, EGRAG presented two more targets from the $7 mark, with the ultimate one resting on $27. Just a week ago, the analyst leveraged Fibonacci extension levels to predict an $XRP rally to the same $27 region, dismissing projections that the top for this cycle could come in at just around $4.

Meanwhile, analyst CryptoInsightUK recently noted that $XRP’s pairing with Bitcoin has pulled back to a critical support zone on the 4-hour chart. According to him, this level was previously resistance, and it is now being retested as support while the RSI shows oversold conditions.

He suggested that although this is not a guaranteed bottom, this setup has often led to strong rebounds in the past. The analyst noted that he sees a solid case for a potential bottom forming for $XRP, especially when combined with the liquidity situation against the dollar.