XRP is currently hovering over a multi-year “mega” W pattern after breakout, with analyst EGRAG identifying the level it has to breach before an explosive run.
Notably, EGRAG discussed this in one of his recent analyses amid XRP’s current price struggles. For context, after observing an impressive 7.81% gain on Aug. 22 to recover above $3.1, XRP saw three consecutive days of decline, dropping to $2.85 by Aug. 25.
As this bearish price action triggered investor caution, EGRAG called attention to a pattern he has persistently highlighted over the past few months, asking his followers, “What are you feeling bearish about?”
The XRP W Pattern Breakout
Specifically, he confirmed that XRP still holds above the trendline of a multi-year W pattern or double bottom structure after breaking out decisively in January 2025.
For the uninitiated, this W pattern typically forms when an asset drops to a particular low price, recovers from the drop, and then collapses to a similar low before eventually rebounding again. When this occurs, it indicates that the asset is on the verge of a much larger upside push. Analysts often confirm the pattern after a breakout above the trendline.
With XRP, the first crash occurred when it dropped from the $3.31 peak in January 2018 to a low of $0.1140 in March 2020 before recovering to $1.96 in April 2021. After this, it slumped again from the $1.96 high to a second low of $0.2870 in June 2022 on the back of the Terra implosion and then rebounded to $1.95 in November 2024.
XRP W Pattern | EGRAG CryptoThis price action from January 2018 to November 2024 essentially formed the W pattern, with the trendline resting around the $1.95 to $2 price region. XRP broke above the trendline in December 2024, but it was not until January 2025, when it soared to $3.4, that this breakout was decisive enough.
XRP Needs to Breach the $3.3 Resistance
From here, XRP collapsed to retest the breakout, leading to the months-long consolidation that lasted until July 2025. Amid this range-bound movement, XRP formed a parallel channel as it hovered above the W pattern. Notably, the $2 mark acts as the last support, representing the lower end of the channel, while $2.55 is the midline of the channel. This is the most immediate support.
Meanwhile, EGRAG’s chart indicates that the upper end of the channel rests on the $3.3 region, which acts as the resistance between XRP and a breakout above the channel. Today, XRP has recovered the $3 mark, currently trading for $3.01. It now requires a meager 9.6% increase from here to breach the $3.3 resistance.
Such a breach would allow XRP to act on the expected uptrend from the earlier W pattern breakout. While EGRAG failed to highlight any upside targets in the latest analysis, a previous report shows he believes a run to $15 is possible, being his conservative target. Meanwhile, his average target sits at $15, with $40 acting as his optimistic target.
XRP Upside Targets | EGRAG CryptoHowever, he advised investors to ensure they start taking profit at lower targets, such as $6 to $7. According to him, his loftier targets could actually be wrong, and it is important that investors realize some profit before the next bear run.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Source: https://thecryptobasic.com/2025/08/27/xrp-hovers-over-mega-w-pattern-analyst-identifies-level-xrp-must-breach-before-run-to-40/?utm_source=rss&utm_medium=rss&utm_campaign=xrp-hovers-over-mega-w-pattern-analyst-identifies-level-xrp-must-breach-before-run-to-40
