Market technician EGRAG Crypto has identified a W pattern formation on the monthly #XRP market cap chart, suggesting an imminent run beyond $1 trillion. EGRAG disclosed this in a recent commentary, where he focused primarily on the XRP market cap chart. His analysis comes as XRP price continues to linger around the $2 mark, leaving its market largely between $120 billion and $145 billion since last month. However, the second approach considers XRP’s historical patterns from 2017. EGRAG confirmed that in 2017, XRP had to rally 242% from Fib. 1 to reach Fib. 1.618. Currently, XRP is already above Fib. 1, as it eyes the 1.618 extension. If it rallies another 242% to reach Fib. 1.618, this would push its market cap to $450 billion, leading to a price of $7.6. For the third approach, he suggested that Fib. 1.618, the upside target, could translate to a market cap of $978 billion when considering the 2018 peak and the 2020 low. If this target materializes, it will push the XRP price to $17, considering the circulating supply. Lastly, EGRAG leveraged a bullish pennant from the XRP/USD and XRP/BTC pairs to present the fourth approach. This pennant aligns with the XRP market cap, with an upside target of $1.2 trillion. Interestingly, this $1.2 trillion translates to an XRP price of $20. Despite this consolidation, EGRAG confirmed that the XRP market cap has held above the previous all-time high of $130 billion from December 2024, which represents Fib. 1. He explained that this position above Fib. 1 indicates that XRP still shows signs of bullish accumulation. He then presented several upside targets leveraging multiple approaches. Specifically, the first approach considers a measured move from the W formation. In this approach, the non-logarithmic move translates to a target of $270 billion, aligning with Fib. 1.618. This marks a new ATH, corresponding to an XRP price of $4.5. Meanwhile, still within the first approach, the logarithmic move translates to a market cap target of $1.5 trillion, representing the largest upside target..
