Analyst Calls $30 XRP Price Based On This Bullish Historical Pattern

EGRAG CRYPTO (@egragcrypto), a popular crypto analyst, has released a new technical outlook for XRP, focusing on a long-term symmetrical triangle pattern. He referenced its historical performance during the 2017 market cycle.

Rather than using the conventionally measured move from the triangle, the analyst relies on the previous major rally as the primary basis for a potential breakout in this current cycle.

According to EGRAG CRYPTO, XRP surged approximately 2,600% in its 2017 rally. This past move serves as the benchmark in the latest projection. If XRP were to repeat that historical gain, the price would approach the $30 level, aligning with the analyst’s main target.

The Symmetrical Triangle Pattern

The chart shared by EGRAG CRYPTO follows the asset from its inception, but the symmetrical triangle began forming in 2017 during the build-up to its all-time high in January 2018.

Price action has compressed over several years between converging trendlines. Although a typical triangle breakout target would involve measuring the widest part of the triangle and projecting it from the breakout point, EGRAG CRYPTO deviates from this standard approach.

Instead, the chart highlights a green arrow illustrating the prior 2,600% move and replicates that from the proposed breakout zone. The chart analysis suggests a retracement to $1.2 before a breakout of similar magnitude occurs.

While this seems bearish, the analysis shows the asset could climb to $32.36—slightly above the Fibonacci 1.618 level and above the $27 target the analyst recently predicted.

The Dual Target

EGRAG CRYPTO also presented a simplified diagram showing a symmetrical triangle and bullish pennant as double targets. This chart shows a breakout scenario where the symmetrical triangle and bullish pennant patterns lead to upward continuation, reinforcing the probability of achieving the target.

This visual clarifies the rationale behind using the prior rally’s magnitude as a valid forecasting tool, particularly in patterns that suggest price compression followed by explosive moves. The chart also helps differentiate between traditional measured moves and the alternative approach used in this analysis.

What’s Next for XRP?

EGRAG CRYPTO concluded the post by reinforcing confidence in the possibility of XRP crossing $30 if 2017 cycle conditions reoccur. XRP has experienced multiple bullish signals recently, and EGRAG CRYPTO asked the XRP army to focus on the current cycle, as he expects big things from the digital asset.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

---

Follow us on X, Facebook, Telegram, and  Google News