XRP is back in the spotlight after a brief dip below $1.90, followed by a rebound helped by the announcement of a truce between Iran and Israel . After the brief recovery, XRP continues to move in a consolidation range that has lasted for several months.
According to Egrag Crypto , one of the most followed technical analysts on XRP, a breakout could be imminent. The key moment? Between now and September. And the forecast is ambitious: price at $27.
This hypothesis is based on a graphic pattern known in the world of technical analysis as a “ bull flag ”. This is a configuration that, in the past, has often anticipated an acceleration in prices.
The mechanism is simple. First there is a sharp rise, then a consolidation phase, in which the price moves sideways or slightly downwards. This movement forms the “bull flag”. If the price manages to break upwards, the bullish impulse can restart with force.
According to Egrag, XRP is exactly in this phase: the flag is almost complete, and the breakout could occur at any moment, with a trajectory similar to that observed in previous market cycles.
Like all technical analysis , this one is based on probabilities and not certainties. But the context, between accumulation by whales, return of confidence and renewed speculative interest, makes Egrag's hypothesis very intriguing, even if probably exaggerated.
More realistic targets: $2.6 in the short term
Just take a look at the chart to realize that XRP has broken upwards a descending channel where it had been trapped for weeks. After the breakout, the price has already retested the upper part of the channel twice, a typical signal of confirmation of the breakout.
Another interesting element is the behavior of the exponential moving averages. The 9 and 21-period curves have crossed to the upside, and now they seem to point towards a potential golden cross with the 200-period average (in orange). If this crossing were to occur, it would be a further technical signal that strengthens the bullish hypothesis.
The next obstacle is clearly visible: the resistance at $2.33 . A strong breakout above this level could trigger a new momentum up to $2.60, where the next key area highlighted on the chart passes.
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