In the past two weeks, XRP has dropped 12.3%, with a 1.9% decline in just the last seven days. Despite the dip, crypto analyst EGRAG CRYPTO believes XRP may be setting up for a breakout, citing a potential bull flag pattern. But how realistic is this rally—and what should investors really expect?
At the start of May, XRP stood at $2.1920. After a minor 3.88% correction early in the month, XRP surged 21.47% to a monthly high of $2.63 on May 12. However, by May 17, XRP had lost nearly 9% from that peak, dragged down by mounting sell pressure. As of writing, XRP is trading at $2.3024, down 13.28% from its monthly high.
According to EGRAG CRYPTO, XRP’s chart now shows a classic bull flag pattern. This technical pattern typically appears after a strong upward movement and signals a possible continuation of the rally.
“We’re seeing consolidation within a parallel range—a textbook flag structure,” he explained in a post on X.
While patterns aren’t guarantees, they often inform short- to mid-term price targets when confirmed with volume and market momentum.
To calculate the potential upside, the analyst applied three methods:
1. Logarithmic Chart Projection
2. Non-Logarithmic Chart Projection
3. Averaged Midpoint Target
Due to market volatility and thin liquidity, the analyst cautions that targets may overshoot or undershoot by 15–20%.
Adjusted Targets:
| Base Target | +15% | +20% |
|---|---|---|
| $18.00 | $20.70 | $21.60 |
| $11.75 | $13.51 | $14.10 |
| $5.50 | $6.33 | $6.60 |
EGRAG encouraged the XRP community to stay focused and patient, suggesting he sees conviction in the technical setup. However, other experts urge caution. Analysts like Benjamin Cowen have previously warned that many altcoins continue to lose ground to Bitcoin in ALT/BTC pairs.
Key indicators to watch include:
While the bull flag pattern is promising, investors should weigh risk factors:
If you’re bullish on XRP, now may be a good time to watch closely rather than rush in. Confirmation of a breakout is key.
Analyst projections vary, with targets between $5.50 and $18. A midpoint estimate is $11.75, based on technical chart patterns.
Experts recommend waiting for a confirmed breakout above resistance, as market liquidity remains low and volatility is high.
XRP could reach $18 based on logarithmic chart analysis, but this depends on breakout confirmation and strong market momentum.
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