According to technical analysis shared by market commentator EGRAG CRYPTO, XRP has printed a bullish Hammer candlestick pattern on its two-week timeframe, with the candle body closing above the 100-period Exponential Moving Average (EMA). This formation is interpreted not as a random bounce but as a structured technical reaction at a key support level, signaling aggressive buyer absorption after recent downside pressure.
The higher-timeframe context, however, remains crucial. While the Hammer is a constructive signal, XRP is still operating within a broader macro corrective structure, defined by a Descending Broadening Wedge pattern. EGRAG identifies $2.20 as the next probable target if upside momentum continues, but stresses that a decisive weekly close above $2.40 is required to confirm a true trend expansion and exit the corrective phase. Until that level is secured, the current move is categorized as part of a larger Wave-4 corrective swing.
In a separate but related analysis, XRP enthusiast @Austin_XRPL provides a historical framework, suggesting the asset may be building its "final base" for a major structural pivot. He notes that each of XRP's previous major appreciation cycles was preceded by prolonged consolidation phases—lasting from one to two years—to establish foundational support. Examples include bases built between $0.15–$0.30 and $0.50–$0.75.
Austin highlights the $1.30 to $1.80 range as a historically "inefficient" zone that XRP moved through rapidly in past rallies, leaving it without proper consolidation. Recent price action within this corridor is viewed as "structural repair" or gap-filling, where XRP is rotating to establish acceptance and convert the area into durable support. Completing a base here would, in his view, resolve the final structural gap on the macro chart, potentially setting the stage for a transition from consolidation to a new expansion phase with reduced overhead supply.
