A recent analysis by crypto expert EGRAG Crypto highlights the possibility of a strong price increase for XRP. The focus is on the formation of a bull flag that could lead to significant price movement.
Bull Flag Formation
EGRAG Crypto first identified the bull flag in a recent update, noting a 67-70% probability of upward continuation. According to his interpretation, the 'flagpole' portion formed from November 2024 to January 2025, when XRP increased in value from about $0.50 to a peak of $3.30.
Updated Chart Analysis and Price Forecasts
Two days later, EGRAG presented an updated version of the flag chart for more accurate projections. He used both logarithmic and linear charts for price targets. The logarithmic projection suggested a target near $18, an increase of approximately 729% from XRP's current price of $2.17.
Broader Market Sentiment and Projections
EGRAG's outlook aligns with other analysts' views. In March, crypto entrepreneur Edoardo Farina expressed confidence that XRP could eventually reach $20. Analyst Papa suggested a target of $14 based on a bullish Fibonacci extension model. At the time of reporting, XRP is trading at $2.17.
Given the analysis, the focus of analysts and crypto enthusiasts remains on whether the bull flag structure will lead to the anticipated price breakout.
