Some analysts expect XRP to climb sharply from its current price of $2.39. According to posts on X by a popular analyst known as Egrag Crypto, the coin is trading at the bottom of a descending triangle and could stage a strong rally in the coming weeks.
According to Egrag, two earlier runs give the pattern some weight. He compared the present chart to moves in 2017 and 2021. Back then, XRP went from $0.097 to $3.84 across a roughly three-month span around 2017–2018.
“I see traders chickening out, scared to lose their 10x gains. And that’s fine , protecting profits is smart,” he added.
Other market voices have echoed parts of that view, reposting Egrag’s chart and wrote that XRP is “busy testing bulls’ faith.”
At press time, XRP was trading around $2.39, down about 3% over the last 24 hours. Technical traders focus on where the price sits inside the triangle pattern and watch volume for confirmation of a breakout.
Some see the structure as a setup for a large move either way. Others point out that the market environment today is not the same as in 2017 or 2021, given bigger trading volumes and different regulatory factors.
The ETF timing adds a new element to watch. If Nasdaq approves Canary Capital’s Form 8-A as reported, the first spot XRP shares could start trading on Thursday. Markets often react to such milestones, but how big that reaction will be is unknown.
Featured image from Gemini, chart from TradingView
