A renowned market technician and XRP permabull has identified what he believes is the final “go-go signal” that could lead to a price explosion.
This commentary came from EGRAG Crypto, a well-known market commentator within the community. Notably, his recent analysis comes as XRP has remained within a bearish range amid the broader market uncertainty. The asset has again slumped below the $2.2 level, now trading at $2.16.
Amid this downtrend, EGRAG remains optimistic. In his analysis, he confirmed that XRP remains in a strong position, identifying what needs to happen for the asset to record a bullish breakout.
XRP Slips into Mega Falling Wedge
The analyst noted that on the 4-hour chart, XRP has entered a “mega falling wedge.” Specifically, the pattern took shape after the November 2024 upsurge that saw XRP reclaim the $1, $2, and $3 psychological levels in one fell swoop across three consecutive months.
However, after claiming a seven-year peak of $3.4 in mid-January 2025, XRP observed a pullback, immediately slumping below $3. With the asset observing lower highs amid the correction that followed, the falling wedge took shape.
Since then, XRP has remained within this falling wedge, unable to secure an upsurge large enough to break above. It made several attempts to breach the falling wedge but faced resistance at the upper trendline.
XRP 4h Chart | EGRAG Crypto
For instance, a rally to $3.02 in March met a roadblock at the trendline, leading to another pullback into the wedge. Another attempt came up last month when XRP soared to the $2.65 price level. In this region, the asset secured a breakout, but it was weak. As a result, a retest of the trendline led to another slump into the wedge.
EGRAG Identifies Five Targets, Including His “Go-Go Signal”
Now, with XRP trading below $2.2 and inside the wedge, EGRAG has pointed out five price levels it must conquer to flip bullish, with one of them being his “go-go signal.” The first level is the $2.3 price level, which XRP has failed to claim since May 29. The second level is the $2.35 mark, an important point for bullish continuation.
Meanwhile, EGRAG has identified the $2.36 price as the third price target. He suggests XRP would finally break out of the mega falling wedge pattern once it reclaims this level. From here, the next price target rests on the $2.45 mark, representing a two-week high.
Importantly, the analyst singled out the next target at $2.65 as the “go-go signal.” This indicates that once XRP reclaims this level, which it has traded below for nearly a month, it would represent the signal of an imminent breakout from the current bearish phase.
While EGRAG failed to present any price target in this analysis, it had in the past projected rallies to greater heights. In particular, the $27 target remains his consistent goal, which he believes XRP has the potential to claim during the ongoing bull run.
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