XRP: A Fork in the Road. Analyst Predicts $17 Price, But There Is a Catch

In a new technical update posted on April 22, 2025, crypto analyst EGRAG Crypto has reaffirmed his outlook on XRP’s price trajectory, with a renewed emphasis on a well-defined technical pattern known as the Ascending Broadening Wedge. This analysis builds on his earlier post dated April 5, where he first identified the potential for XRP to either reach a significant upside target of $17.50 or retrace to a much lower level of $0.65, depending on how price action unfolds within the pattern. According to EGRAG Crypto, the current formation remains valid and structurally intact, with the upper boundary of the wedge now situated between $5 and $6. In the latest chart shared by the analyst, XRP is trading just above $2.10, with recent price candles indicating prolonged consolidation in a horizontal range. The update underscores that a confirmed breakout and weekly close above the $5–$6 zone would be required to initiate a possible rally toward the $17 level. This level represents the projected measured move for the formation, contingent on bullish continuation. Previous Conditions and Key Levels Revisited The Ascending Broadening Wedge pattern, as illustrated in EGRAG’s chart, typically features a widening price range and sloped upward structure, often associated with increasing volatility. A successful breakout above the wedge’s upper trendline often results in a sharp move higher, although this formation historically carries a higher probability of breaking to the downside. EGRAG reiterates that this dynamic still holds, noting that statistically, there is a 70% chance of a downward breakdown and only a 30% chance of a breakout to the upside. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 In the April 5 post, EGRAG outlined a sequence of technical checkpoints XRP must clear to validate the bullish breakout scenario. These include a confirmed close above $3.50, a test of the $5 region, a likely rejection from that zone, and a subsequent retest of the $1.90 level. If the asset reclaims $5 after that correction and achieves a close above $6, he projects a rapid acceleration in price to double-digit levels, potentially reaching $17.50 within two to three weeks. Updated Commentary and Visual Targets The latest update keeps that scenario in play: “The upper edge of our Ascending Broadening Wedge is currently between $5 and $6. If we can close above this level, it paves the way for a potential measured move reaching all the way up to $17!” EGRAG’s accompanying chart supports this framework with specific price markers. These include resistance at $3.50, $5.10, and $6.00, all as key thresholds toward a possible move to $17.50. On the downside, the chart also highlights the risk of a steep decline to $0.65 if the formation breaks down. Formation Incomplete Until Confirmations Appear While the current price action has not yet confirmed a decisive move in either direction, EGRAG maintains that traders should be alert to structural developments within the wedge. He notes that his bullish stance remains conditional and depends on fulfilling specific criteria. Until then, the formation is regarded as “just a possibility.” EGRAG concludes his analysis with a message aimed at the broader XRP community : “#XRPFamily STAY STEADY and STRONG! Together We Rise!” Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post XRP: A Fork in the Road. Analyst Predicts $17 Price, But There Is a Catch appeared first on Times Tabloid .

Source: TimesTabloid