Crypto market analyst EGRAG CRYPTO has warned XRP investors of a potential major move as he identified a pattern shaping up on the token’s weekly chart. He pointed out what looks like a double top formation, noting two strong rejections at a key resistance level near the current price of $1.34. The analyst stated that a breakdown below the formation’s neckline, with a confirmed weekly close, could accelerate a bearish scenario.
Chart interpretation reversed
However, a closer analysis of the chart he published reveals an inverse reading of the setup. The chart presented by EGRAG CRYPTO was shown in inverted form, making an upward breakout visually appear as a sharp downward move. Upon examining the original orientation, the supposed double top pattern is actually a double bottom, which technical analysts often view as a bullish reversal signal.
This reframes the analyst’s warning: what appears at first glance to be a signal for a bearish continuation is, in reality, a setup pointing to a possible strong rally if the key resistance levels are surpassed.
EGRAG CRYPTO is a well-known figure among technical analysts following the $XRP market, frequently sharing chart-based market insights and pattern analyses with tens of thousands of followers on social media.
Mini dictionary: Double bottom, a chart pattern indicating two consecutive lows at a similar level, often signaling a potential bullish reversal after a downtrend is exhausted.
“If the neckline breaks with a confirmed weekly close, the bearish setup could accelerate,” the analyst wrote, though the flipped chart actually points to a potential breakout above resistance rather than a collapse.
Price targets and key zones
The green arrows on the chart, which seem to trend downward in its inverted presentation, actually trace an upward path on a standard view. This roadmap projects initial resistance at $1.70, followed by a move toward $2.60 once the first level is cleared. Afterward, the next target is the historical all-time high at $3.65, with a final move foreseen above $5.50 in an extended bullish scenario.
Major horizontal levels—identified as resistance and support bands—are observed at $1, $1.70, $2.60, and $3.60, which are expected to play a pivotal role in determining $XRP’s direction in the near term. Tactical traders are closely watching these zones for confirmation before positioning for further moves.
| Price Level | Significance |
|---|---|
| $1.00 | Key support and resistance cluster |
| $1.70 | Initial bullish target |
| $2.60 | Secondary upward target |
| $3.65 | All-time high target |
| $5.50 | Extended bullish scenario |
Pattern confirmation required
EGRAG CRYPTO advised that no positions should be taken until the setup is verified. He emphasized that confirmation requires a decisive weekly close above the neckline. Until that happens, traders are urged to wait for clear evidence of the breakout pattern. The analyst anticipates significant volatility, with XRP having spent an extended period consolidating throughout 2026.
The development of this pattern on a weekly chart, which reflects several weeks of trading data, adds greater importance to its potential impact. If confirmed, the breakout could set the tone for the next major move in the XRP market.
Traders are encouraged to wait for a weekly confirmation before acting, as the direction of the next large move depends on the resolution of this high-profile pattern.
