EGRAG Crypto, a well-known market analyst, has presented a bullish outlook for XRP, citing a consistent technical pattern on its yearly chart. Despite recent price stagnation, EGRAG asserts that XRP is showing signs of a potential major rally driven by strong historical indicators.
Currently, the token is trading at approximately $2.19, having declined from a recent high of $2.65 reached on May 12. While short-term volatility has kept the asset consolidating around the $2 level, EGRAG believes the broader picture points toward significant upside potential.
Historical Chart Patterns Suggest Bullish Momentum
The foundation of EGRAG’s analysis lies in a recurring bullish engulfing candle formation observed on XRP’s yearly chart. A bullish engulfing candle consists of a small bearish candle followed by a larger bullish candle that entirely eclipses the previous one, signaling a possible trend reversal to the upside.
#XRP – Candle Number 1⃣3⃣, Price 🎯$13 or $22 & The Noise Signal 🪇
Here are the 3⃣ main themes we can unveil from the 12-month/yearly chart: 📊
1️⃣ Candle 1⃣2⃣: The Most Bullish Candle Formation
Candle 12 was actually the strongest Bullish Engulfing pattern, the engulfing… pic.twitter.com/h1kqQRmshL— EGRAG CRYPTO (@egragcrypto) May 29, 2025
EGRAG notes that this pattern has been evident in XRP’s price movements since 2017. He highlights the significant example of a modest -0.68% red candle in 2016, followed by a massive green candle in 2017, which led to an exponential increase of over 33,000%. According to the analyst, the continuation of this pattern into 2024, reflected by what he labels “Candle 12,” is a strong technical signal that the trend could repeat.
He emphasizes that bullish engulfing formations carry more weight when observed on higher time frames such as the 12-month chart, reinforcing the potential impact of the 2024 signal.
Candle 13 and Forecasted Price Levels
The analyst points to the current year, 2025, as “Candle 13” in this ongoing pattern series. At the time of analysis, XRP had already recorded a 6.53% gain for the year. Drawing parallels to previous cycles, EGRAG recalls a major price rally in 2021, referred to as “Candle 9”, which saw XRP rise by approximately 800%. If a similar increase were to occur in 2025, the asset could potentially reach $17.
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In addition to candlestick patterns, EGRAG identifies three ascending trendlines on the long-term XRP chart. These lines represent historical levels of support and resistance. The analyst focuses on two resistance lines: Line 1 intersects at $13, and Line 2 at $22. He believes these levels are the most probable targets if the bullish scenario unfolds, suggesting that XRP could rise to either of these values depending on how the market develops.
Short-Term Range Considered Market Noise
Despite the optimistic long-term forecast, EGRAG cautions against misinterpreting short-term fluctuations as trend-defining moves. He characterizes the current price range between $1.85 and $3.4 as “market noise,” implying it is not a reliable indicator of the asset’s longer-term direction. However, he maintains that a close below $1.85 would invalidate the current bullish setup, while a close above $3.4 would confirm a continuation toward higher targets.
EGRAG’s analysis underscores the potential for the asset to break out of its current consolidation phase and move toward double-digit prices. Backed by historical chart patterns and long-term resistance levels, his projection suggests that a rally to $13 or even $22 is plausible, provided XRP maintains its current upward momentum and avoids a close below critical support levels.
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.
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