Crypto analyst EGRAG Crypto has identified a major symmetrical triangle formation on the two-week XRP price chart, projecting a potential breakout toward $60 under favorable conditions. According to the analyst’s October 14 post on X, XRP faces a critical technical test, with an initial confluence range between $4.30 and $10.23, followed by extended targets of $15.93, $33, and $60.
The formation covers multiple market cycles dating back to 2014 and is defined by descending resistance and ascending support. Buyers have consistently established higher lows while sellers maintain pressure near declining resistance, creating a tightening structure that EGRAG says could precede a major price move. However, the direction remains uncertain until XRP breaks above its long-term resistance trendline and confirms sustained bullish momentum.
EGRAG’s chart highlights historical measured moves from previous cryptocurrency market cycles, arguing that prolonged consolidation periods have previously led to substantial price expansions. The analysis also suggests XRP could pull back following an initial breakout, and a successful retest of former resistance as support would strengthen the bullish case. Conversely, a breakdown beneath the ascending support trendline would weaken the formation and challenge the projected targets.
The analyst also questioned why XRP receives relatively limited attention in institutional crypto narratives compared with Bitcoin, Ethereum, and Solana, pointing to XRP’s expanding ecosystem and potential role in digital financial infrastructure. The post did not provide evidence that institutions deliberately exclude XRP, and it set no specific deadline for reaching the projected levels, leaving breakout confirmation as the primary technical condition.
