XRP's Price May Surge 6400% to $33, Says Analyst

Crypto analyst EGRAG CRYPTO has reaffirmed his previous analysis of XRP’s price trajectory by reposting a key chart and commentary originally shared on September 1, 2023. In a new tweet, he wrote: “XRP Three Triangles – #Reposting: The Conviction is still the same,” signaling that his outlook on XRP’s long-term potential remains unchanged.

The chart reposted by EGRAG presents a technical analysis of XRP based on three historical triangle patterns, each of which preceded significant price movements. The chart, published on TradingView, highlights consistent consolidation and breakout patterns, with implications that XRP may be on the verge of a major upward move.

In the initial tweet, EGRAG CRYPTO identified three distinct triangle formations: the Blue Triangle, the Green Triangle, and the current White Triangle. According to the analyst, the Blue Triangle led to a breakout that formed a series of lower highs, a structure typically indicative of bullish strength. The subsequent Green Triangle followed a similar trajectory, also breaking out upward with the same lower-highs configuration.

Currently, XRP is positioned within what EGRAG refers to as the White Triangle. This formation is said to have already begun breaking to the upside. However, unlike the previous two triangles, the White Triangle is now forming higher highs—a technical change that, in EGRAG’s view, may suggest that an even more aggressive bullish trend is developing.

The chart illustrates a price target of $33, supported by a strong vertical breakout line. This figure is labeled as the “minimum target” and is derived from comparing the current triangle structure with the historical behavior of XRP following previous consolidations. EGRAG emphasizes that the Blue and Green Triangles closely mirror the pattern seen today, backing the likelihood of a comparable outcome.

Additionally, the analysis includes a second, more ambitious projection. If XRP were to follow the same fractal pattern as before and achieve the same level of percentage growth—approximately 2068%—then the price could theoretically reach around $693. While this is not presented as a concrete forecast, it illustrates what EGRAG describes as “astonishing growth” potential, should the current trend fully develop.

When the chart was posted, XRP was trading near $0.51. A move to the $33 target would represent a price increase of over 6400%, while the higher projection would surpass 2000% from the breakout zone. These figures underscore the scale of the potential moves being discussed, though EGRAG clarified that these targets are based on technical analysis rather than fundamental catalysts.

EGRAG CRYPTO’s consistent messaging and emphasis on long-term conviction suggest that his bullish stance on XRP remains firmly rooted in chart-based analysis. Whether the current triangle pattern will replicate historical movements remains to be seen, but the analyst’s position has not wavered.