Crypto analyst EGRAG Crypto has highlighted a massive monthly diamond pattern on XRP’s chart, suggesting the asset is approaching a decisive technical juncture. According to a post on X, the formation has been compressing for years, with volatility declining as price moves toward the apex. The analyst stressed that a confirmed breakout above the diamond could ignite the next macro expansion, while a rejection would keep XRP trapped in its long-term accumulation structure.
Converging moving averages bolster the bullish case. EGRAG pointed to the convergence of the 33 Exponential Moving Average and the 50 Simple Moving Average, a setup that appeared near previous macro cycle bottoms before significant rallies. The monthly chart also outlines three major accumulation phases over a decade, each marked by yellow trendlines, reinforcing a cyclical rhythm.
The analyst provided projected resistance levels if a breakout occurs: approximately $5, $14, $34, $66, $135, and $300 across future market cycles, though these remain technical projections requiring confirmation. The diamond sits within a broader descending channel, underscoring that XRP remains in an extended accumulation phase rather than a fully confirmed bullish trend. EGRAG Crypto emphasized that the next confirmed move is critical, with limited room for price to stay inside the pattern without a decisive break.
