XRP (XRP-USD) is stuck, but not for long — at least if popular crypto chartist Egrag Crypto is right. The analyst, known for technical breakdowns, says XRP is about to detonate out of its long, tightening range between $2.00 and $2.40. According to his charts, a massive breakout is coming “between early July and mid-September.”
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Why XRP Is Poised to Rally
His reasoning is that XRP has been locked in a large symmetrical triangle for over 330 days. When traders talk about chart formations like symmetrical triangles, they’re referring to price patterns where highs are getting lower, and lows are getting higher, creating a tightening “coil” of price action.
Now, that tightening doesn’t go on forever. Historically, these formations tend to “resolve” — meaning break sharply up or down, when 75% to 95% of the pattern’s total length has passed.
In this case, the 251-day mark points to July, and the 317-day mark takes us into September. That’s the window.
And the targets? If this breakout is the real deal, Egrag sets the upper bounds between $8 and $27. Yes, you read that right.
The Pattern’s Clear, Now It’s All About Execution
The symmetrical triangle, visible in the monthly chart, has been compressing for nearly a year, creating a springboard pattern. XRP has tried and failed to push above $2.40 multiple times since January’s high at $3.40, but now it’s holding a higher base near $2.00.
Technical traders know what this means: pressure is building. If bulls crack through $2.40, especially with volume, the floodgates could open.
“Under $2 Is Incredibly Cheap,” Say Bulls Betting on a 2017-Style Run
It’s not just Egrag. Crypto YouTuber DustyBC said XRP under $2 is a steal, and Mikybull Crypto compared the current structure to XRP’s legendary 2017 breakout — which saw the coin go from pennies to dollars. His forecast? $14 if history rhymes.
That might sound aggressive, but sentiment is shifting. And price action is starting to confirm it.
$2.40 Is XRP’s Make-or-Break Level
XRP bulls are eyeing one key level: $2.40. That’s the 200-day SMA and a psychological ceiling. The 100-day SMA at $2.22 is the first hurdle — and price already tested it this week. A strong close above both would invalidate the current bearish setup that threatens a slide back to $1.18.
Analyst CasiTrades said clearing $2.25 and $2.69 would confirm this isn’t just a dead-cat bounce, but a full-on trend reversal.
So… Will It Happen?
A lot depends on volume, momentum, and how markets digest macro noise. But the setup is clean. A bullish resolution from this triangle pattern, backed by improving sentiment and whale accumulation, could spark XRP’s next parabolic move.
But the opposite is also true. Failure to break out by September could see traders give up and rotate to faster-moving names.
At the time of writing, XRP is sitting at $2.1882.
