XRP News Today: XRP Bullish Reversal Signals Potential 15% Gain

Prominent analyst EGRAG CRYPTO has recently highlighted XRP’s performance against Bitcoin (XRP/BTC) as entering a critical technical zone. The analysis, based on classical technical charting principles, indicates a significant bullish reversal with the formation of an inverted hammer candlestick pattern. This pattern is often interpreted as a bullish reversal signal, particularly after a downtrend, suggesting a potential uptrend as the pair moves toward a breakout in August.

The chart features a large symmetrical triangle structure containing XRP/BTC’s recent price action. At the time of the analysis, the pair traded around 0.00002042 BTC ($2.194), sitting on the edge of structural support. The formation of an inverted hammer candlestick is notable, as it is commonly seen as a bullish reversal signal. The analyst emphasizes that XRP is not being viewed bullishly enough by the broader market, despite the technical evidence. He encourages the XRP community to “stay steady and strong,” reinforcing the sentiment that a major price move could be on the horizon.

Critical resistance levels are clearly laid out, including the Fibonacci retracement zones. Notably, the 0.702 level (approximately 0.00002468 BTC/$2.652) and the 0.786 level (around 0.00002893 BTC/$3.1) are marked as key upside targets in the short to mid-term. These levels lie above the current range but within striking distance should bullish momentum emerge. A green zone extending to 0.00002700 BTC ($2.9) provides a cue for a potential breakout zone above triangle resistance. Conversely, a red horizontal support line at approximately 0.00001930 BTC ($2.07) signals the last line of structural defense, coinciding with the lower boundary of the triangle and acting as a base for the inverted hammer to take effect.

Longer-term projections are drawn using Fibonacci extensions, with the 1.272, 1.414, and 1.618 levels suggesting potential future targets of 0.00007262 BTC ($7.8), 0.00009502 BTC ($10.2), and 0.00013982 BTC ($15), respectively. These targets sit well above historical resistance and represent new all-time highs for XRP if the current pattern plays out. EGRAG CRYPTO has previously predicted double-digit targets for XRP, and the chart marks August 25 as a key date for the upcoming breakout. While market confirmation is still pending, the groundwork for an upward move is technically laid out, with specific levels to monitor in the weeks ahead.