In an intriguing turn of events within the cryptocurrency landscape, Egrag Crypto, a respected analyst and fervent supporter of XRP, has unveiled a compelling bullish forecast for the fourth-largest cryptocurrency by market capitalization. According to Egrag, XRP could potentially surge to an astonishing $22, a prediction that arises amidst a period of relative stability following a price rejection at the $1.60 mark earlier this week.
In a recent post on X, Egrag Crypto dissected the XRPUSDT monthly chart, revealing the emergence of a bullish W pattern that has been taking shape over the past six years. Currently, XRP appears to be navigating the second phase of this bullish structure, which began with a breakout in 2025 followed by a notable pullback that has seen the asset decline over 56% since last October. However, Egrag argues that this dip could be a precursor to a significant price expansion, aligning with the classic W pattern characterized by a breakout, a subsequent pullback, and an eventual upward movement.
For XRP to maintain its bullish trajectory, Egrag highlights the necessity of reclaiming and holding above the $1.60-$1.80 range. A decisive move past the $2.00 threshold would further corroborate the anticipated bullish momentum, setting an initial target of $3.30, which could pave the way for even higher prices. Egrag estimates a 25%-35% probability that this bullish scenario could fully materialize, propelling XRP to the $22 target. More conservatively, he suggests a 50%-60% chance of XRP peaking within the $3-$8 range, while the likelihood of a significant downturn remains at 10%-15%.
However, the analysis is not without caveats. Egrag cautions that the bullish outlook hinges on maintaining key support in the $1.40-$1.20 zone. A decline below this level could signal the onset of a long-term downtrend, undermining the bullish structure. Additionally, the failure to reclaim the $2.00 level or a weakening bullish momentum could lead to a false breakout.
As of now, XRP is trading at $1.41, reflecting a slight decline of 2.33% over the last 24 hours. Despite this, the altcoin has shown minimal fluctuation on higher time frames, with a 0.61% gain on the weekly chart and a 0.35% loss on the monthly chart. The crypto market remains in a state of flux, and analysts will be watching closely to see if XRP can reclaim its bullish momentum in the coming weeks.