#AirdropSafetyGuide#StablecoinPayments $XRP
Date: May 1, 2025
A prominent market commentator believes that XRP will break through the upper limit of the three-digit range, citing historical macroeconomic data.
XRP has not performed well over the past few months after surpassing $3.3 in mid-January. The coin collapsed from its seven-year high amid bearish pressures that have flooded the broader cryptocurrency market since February. XRP fell by 29% in February and an additional 2.58% in March.
However, although its performance in April was more optimistic, it did not see any significant rise, remaining around its lows of $2. Interestingly, market analyst EGRAG believes this consolidation will end soon, highlighting the presence of a long-term macroeconomic channel.
- Announcement -
XRP is observing a 6-candle pattern
In his latest analysis, the market observer noted XRP's behavior within this macro channel on the monthly chart. Notably, his historical data reveals a pattern that the asset followed within this channel, ultimately leading to a significant price increase.
This pattern involves the formation of six major monthly candles above the 21 exponential moving average. To clarify, XRP experienced this pattern in the second half of 2017, following its astonishing rise of 801% from March to May 2017. Notably, after this rise, XRP underwent a correction and subsequent consolidation that lasted for months.
Macro Channel XRP EGRAG Crypto
Macro Channel XRP | EGRAG Crypto
During this consolidation, the asset experienced a massive red monthly candle in July 2017, dropping by 34% that month. The second candle was bullish, leading to a 58% increase in August 2017. Meanwhile, the third candle, in September 2017, resulted in a 23% loss.
The fourth candle saw significant increases, but it closed with a loss of 0.92%, paving the way for the fifth candle to recover, achieving a 19% increase in November. Interestingly, XRP saw a massive green candle in December 2017, rising by 746% that month, completing the six-candle pattern.
XRP to $17 if history repeats itself
EGRAG believes this structure has begun to repeat itself. Notably, after the initial rise of 283% in November 2024, XRP has already seen five candles. These five candles led to a 6.43% increase in December 2024, a 46% increase in January 2025, a 30% loss in February 2025, a 2.56% decrease in March 2025, and now, a 4.84% increase in April 2025.
- Announcement -
The market analyst believes that this proximity to the April candle paves the way for a massive increase during the sixth candle in May 2025. According to him, if history repeats itself, XRP will see another 'huge monthly candle' in May 2025, with a target price of $17. This increase would represent a 672% rise from the current price of $2.2.
Another potential rise to $55
Nonetheless, EGRAG expects XRP prices to rise starting now. It is noteworthy that these five candles remained within the previously defined macro channel. However, with XRP rising to $17, the chart indicates that the asset will break through the upper limit of the channel.
According to EGRAG, this breakout in itself may trigger another rise. From its initial target of $17, EGRAG expects XRP's price to rise by another 223% to reach $55. Notably, analysts like Cryptominder have also predicted a potential price increase for XRP to the $50 range.
