Analyst Egrag Crypto believes XRP could be gearing up for a major breakout phase, with technical indicators pointing toward a long-term price target between $8 and $27.
In his latest post, Egrag highlights that XRP appears to be completing Wave 4 of an Elliott Wave cycle, a corrective phase that often misleads traders into premature selling before the final impulsive surge known as Wave 5. According to his calculations, Wave 4 likely ended near $1.40, setting the stage for an upward move.
Using Fibonacci extensions, Egrag projects a Wave 5 target near $7.29, aligning with a broader bullish structure that could extend to the $8–$20 range, or even $27 in a more aggressive macro scenario. He compares this setup to previous market cycles where similar corrections preceded explosive rallies.
Egrag also emphasized the importance of the EMA Ribbon on the monthly chart, noting that XRP typically dips into this area before its final surge. In both the 2017 and 2021 cycles, the asset briefly tested the ribbon before skyrocketing. “Right now, even after all the chaos, we’ve barely dipped into it,” he observed, suggesting a potential base formation before the next major move.
Despite acknowledging widespread market anxiety, Egrag reiterated his confidene in the technicals, encouraging followers to trust the data over fear. “We’re in Wave 4, consolidation before the storm,” he said, adding that the next bullish wave could redefine XRP’s long-term trajectory.