XRP is on the brink of what analysts describe as a potentially historic breakout, with its price holding firmly above $3.50 following a week of strong upward momentum.
The token has posted a 23 percent weekly gain, reigniting interest among traders and long-term investors alike.
According to a number of seasoned market observers, including technical analyst EGRAG CRYPTO, the current market structure signals a continuation of XRP’s bullish trajectory.
This outlook is reinforced by multiple technical indicators and emerging patterns, particularly those tied to Elliott Wave theory and Fibonacci extensions.
Elliott Wave Pattern Suggests Long-Term Upside
EGRAG CRYPTO, a prominent chart analyst known for deep-dive macro projections, recently shared a detailed Elliott Wave forecast, suggesting XRP is in the early stages of a five-wave bullish pattern. His analysis projects three key Fibonacci extension targets for XRP’s market capitalization.
These milestones include a $308 billion valuation at the 1.272 Fibonacci level, $488 billion at 1.414, and a peak of $946 billion at the 1.618 level. According to the forecast, wave (3) could push XRP’s market cap near the $488 billion mark, while wave (5) may approach the near-trillion-dollar threshold.
Price projections accompanying these targets point to $5.37, $6.26, and potentially a dramatic surge toward $23.64, figures not previously reached in XRP’s trading history.
The full chart, shared via social media, outlines XRP’s long-term bullish setup and emphasizes the need for sustained support above key zones such as $3.13 and $2.60 to maintain this outlook.
Technical Structure Reinforces Bullish Pennant Formation
Adding further weight to the bullish case is the presence of a triangular consolidation pattern, widely interpreted as a bullish pennant. This pattern has been developing over the past few months and is now approaching a critical point.
A decisive move above $3.65 would be considered a breakout confirmation, potentially setting the stage for XRP to retest and surpass its all-time highs.
The ascending channel that has defined XRP’s broader trend remains intact. If the price breaches the upper range of this structure, analysts believe it could unlock new growth potential.
Additional Analysts Echo Positive Sentiment
The optimism around XRP isn’t limited to EGRAG’s projections. Crypto analyst Ali Martinez recently identified a breakout from a weekly bullish flag pattern, with confirmation above $2.70 suggesting a move toward the $15 range over the long term.
This outlook is based on classical flagpole measurements and assumes continued strength in volume and support levels.
Meanwhile, trader CasiTrades noted XRP’s clean consolidation between $3.40 and $3.60, a development that further strengthens the bullish narrative. According to Casi, the token has now flipped a key resistance trendline into support, positioning XRP for additional gains if buying momentum continues.
Technical metrics like the Relative Strength Index (RSI) show room for further upside before entering overbought territory, implying that buyers may still have fuel left in the tank. A breakout above $3.66 could spark a rapid move toward $4.65, while any retracement is likely to find support around the $3.20–$3.25 area.
Conclusion: XRP Poised for Potential Upside, But All Eyes on Resistance
With confluence across multiple technical analyses and growing macro interest, XRP is moving toward a pivotal breakout phase. Fibonacci targets, bullish wave structures, and consolidation patterns all point to a strong continuation if resistance at $3.65–$3.66 is decisively cleared.
While caution remains warranted given the volatile nature of crypto markets, the alignment of these technical indicators suggests that XRP’s next move could be significant. Traders and investors alike are watching closely to see if the bullish momentum can carry the asset into uncharted territory.
