Crypto analyst EGRAG says XRP (CRYPTO: XRP) could be repeating a rare pattern from its 2016 accumulation phase, one that historically preceded a massive rally.
What EGRAG’s Chart Shows
EGRAG posted on X that XRP printed three consecutive green monthly candles during its 2016 bear-market base-building phase, a sequence he calls extremely rare during accumulation.
XRP has already posted two green months in 2026, and a positive September close would complete the same pattern.
“2016 → 2026… 50X? $50? History rhyming?” EGRAG wrote, framing the comparison as a possibility rather than a guarantee.
“I don’t create the pattern. I just read the chart,” he added.
His focus stays narrow for now: September needs to close green first before the historical parallel carries any real weight.
Why Other Analysts Are Also Turning Bullish
Analyst Ali Martinez posted on X that XRP completed the right shoulder of a major inverse head-and-shoulders pattern on the daily chart following a 27.6% rally from $1.25 to $1.58.
Whales have accumulated more than $2 billion worth of XRP recently, adding weight to the setup.
A decisive break above the $1.60 neckline could confirm the pattern and trigger another 30% rally toward $2, according to Ali Charts.
Moreover, as Benzinga reported Monday, veteran trader Peter Brandt projected XRP could eventually climb to $5.40, a potential 257% gain, based on trend channels and moving averages on the long-term monthly chart.
Brandt, who brings nearly 50 years of technical analysis experience, stressed the chart is not a trade recommendation.
XRP Price Action: Key Technical Levels to Watch
XRP trades at $1.52 Wednesday, down 3% after pulling back from intraday high near $1.66.
Price still holds well above every major EMA, with the 20-day at $1.41, the 50-day at $1.33, the 100-day at $1.28, and the 200-day at $1.36.
RSI sits at 61.99, cooling off from an overbought spike above 78 last month but still holding above its signal line at 54.81, keeping momentum tilted toward buyers despite the pullback.
Key levels for XRP:
- $1.66 — intraday high, immediate resistance
- $1.70 — August High (Resistance)
- $1.41 — 20-day EMA, breakout retest zone
- $1.36 — 200-day EMA, deeper support
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