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‘And You Wonder Why I Am So Bullish,’ Analyst Targets XRP to $8.5, $13.7, and $27
April 1, 2025
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.
XRP 1M Chart | EGRAG Crypto
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.
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