Market technician EGRAG Crypto has identified when he believes XRP could finally break out from its months-long symmetrical triangle.
Notably, this extensive symmetrical triangle has contributed significantly to the ongoing consolidation phase that XRP has experienced over the past few months. For context, after reaching a 7-year high of $3.4 and subsequently pulling back, XRP has continuously ranged around the $2 price.
However, EGRAG expects the current phase to end in July or September. According to him, “The Breakout Is Coming.” Notably, he confirmed that he arrived at this conclusion “Based on Math” of the pattern.
XRP Forms Months-Long Symmetrical Triangle
For context, within the consolidation phase, the symmetrical triangle has shaped XRP‘s price movements, with the upper descending trendline presenting bearish resistance, while the lower ascending trendline provides support. Data from EGRAG’s chart shows that the triangles formation began after the meteoric surge in November 2024.
Importantly, XRP has, over the months, attempted to break above the symmetrical triangle but to no avail. Specifically, the first attempt occurred in the second week of January 2025, when XRP reached the $3.4 peak. However, the resistance at this mark proved resilient, leading to a pullback.
The second breakout attempt came up in early March as XRP reclaimed $3. Nonetheless, the resistance again resulted in a massive pullback. Meanwhile, XRP recovered to a lower high of $2.65 last month, again, looking to breach the upper trendline. However, this proved futile as well.
XRP Symmetrical Triangle | EGRAG Crypto
Amid these attempts, market participants have grown increasingly anxious, especially during times of extreme bearish pressure like what the crypto market witnessed over the weekend.
XRP Breakout Timeline
In an effort to ascertain when a successful breakout will occur, EGRAG leveraged historical data. According to him, breakouts from such triangle formations often happen 75% to 95% of the duration of the entire structure. The analyst presented this theory with a total duration of 334 days, essentially 11 weeks.
Since Q4 2024, XRP has already spent over 200 days in this symmetrical triangle. As a result, EGRAG suggests that a breakout could occur in early July, representing 251 days or 75% of the total 334-day duration. If this doesnt materialize, he expects the breakout to happen between early July and mid-September, marking 317 days or 95% of the total 334-day duration.
After the expected breakout, EGRAG believes XRP will likely be on track for new price heights. Data from the chart shows that his first target is the $3.35 high, representing Fibonacci 1. From here, EGRAG sees XRP reaching several Fibonacci extensions, with the second target resting at $8.49, around the Fib. 1.272 extension. This would mark a new all-time high.
Meanwhile, the market analyst expects further upside, suggesting XRP could rally to a new peak of $13.79 at Fibonacci 1.414. After this, EGRAG believes XRP has the potential to claim a price of $27.68, aligning with Fib. 1.618. Notably, from the current price of $2.17, XRP must rally from 291% to 1,175% to reach the $8 to $27 price region.