XRP is trading at $1.42 as crypto analyst EgragCrypto identified a potential long-term reversal pattern on the monthly chart. The analyst projects that the token could reach $22 if the bullish setup continues to play out.
The Ripple-backed asset reached roughly $3.65 in July 2025, following a breakthrough of a resistance level that had held for years. Since that peak, XRP has retraced sharply, dropping about 61% from its high.
The W Formation
EgragCrypto’s analysis focuses on what he describes as a “macro W formation” on XRP’s monthly chart. Also known as a double-bottom, this pattern forms when an asset records two significant lows before attempting a sustained rally.
According to the analyst, the first leg of the W is complete, while the second leg, a breakout followed by a pullback, is currently underway.
The W pattern carries a measured move target of $22, a level that aligns with historical expansion multiples observed in previous XRP bull cycles and a key resistance point on the long-term chart.
Notably, XRP must clear certain resistance levels to maintain the pattern. The analyst highlights the $1.60–$1.80 range as a critical support zone. A decline below this level could invalidate the formation. Conversely, reclaiming $2.00 on a sustained basis would serve as confirmation, potentially opening the path toward $3.30 and higher.
Probability Breakdown
EgragCrypto also assigned probabilities to these targets. A partial expansion to the $3–$8 range is seen as the most likely outcome, with a 50–60% probability.
The full $22 move carries a 25–35% chance, while a deeper reset that invalidates the pattern is estimated at 10–15%.
Analysts Offer Additional Perspectives
Other analysts have also weighed in on XRP’s potential. Analyst CW noted that the token has formed its first significant green candlestick in nine weeks, signaling the start of what he calls “Phase 4” of the market cycle.
Using Fibonacci extensions and historical comparisons, he projected a target near $21.5, with broader Elliott Wave analysis supporting levels in the $15–$20 range.
Similarly, analyst Hov highlighted a complex Elliott Wave structure dating back to 2014. He suggested that the October market decline, which erased $2 trillion from the crypto market, may have been a temporary correction within a longer-term bullish trend.
Hov maintains a macro target of $15–$20, noting that whether the current move represents a Wave 4 correction or a deeper Wave 2, Fibonacci and Elliott Wave projections point to $20 as a key milestone, with potential for higher gains if a final Wave 5 rally unfolds.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are volatile, and readers should conduct their own research before making financial decisions.