XRP traded relatively flat on Wednesday, consolidating after a strong rally on Tuesday that saw the coin surge, recovering all losses from the past week or so. The relative calm was largely attributed to profit-taking by investors, as they get ready for the next ride.
Despite the brief cooldown, XRP’s broader outlook remains bullish, with popular crypto analyst EGRAG CRYPTO suggesting a 658% surge if the price unfolds inside a broadening wedge pattern.
“XRP – A Fork in The Road. The upper edge of our Ascending Broadening Wedge is currently between $5 and $6,” Agrag tweeted Tuesday. “If we can close above this level, it paves the way for a potential measured move reaching all the way up to $17.”
This latest update revisits a prior technical analysis from April 5, 2025, in which EGRAG pointed out the same wedge pattern —a typically bearish formation with a 70% chance of breaking lower to $0.65. However, the analyst emphasized that surpassing the $5-$6 threshold could dramatically change the outlook, potentially triggering a sharp rally to $17.
Interestingly, EGRAG has also hinted at an even more ambitious target of $27 in future projections. Recently, he cautioned that XRP remains volatile, metaphorically stating, “XRP Kangaroo is Clucking,” a nod to the unpredictable swings the token could face before a decisive bullish move.
Meanwhile, analyst Dark Defender provided a detailed Elliott Wave analysis, identifying the current move as part of a Wave 4 correction. He highlighted that XRP had bounced precisely at $2.1937 ,which is his projected bottom, signaling a likely end to the correction and the beginning of Wave 5, targeting levels between $2.222 and $2.40.
“We had 6 years of consolidation between 30 and 50 cents, so this is just the beginning of higher targets,” he noted, urging traders to watch key support at $1.8815 and resistance levels at $2.222 and $2.40.
Adding to the optimistic outlook, analyst Ali Martinez pointed out an emerging inverse head and shoulders pattern on XRP’s chart, suggesting a possible breakout to $2.70, a 20% gain from current levels. Martinez also revealed that XRP network activity had surged by 67.5%, with the number of active wallet addresses increasing from 27,352 to 40,366, indicating renewed interest and buying pressure.
At the time of writing, XRP was trading at $2.23, up 3.51% over the past 24 hours. Trading volume also spiked significantly, doubling to $5.8 billion in the same period, according to CoinMarketCap data.
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