XRP’s worth motion up to now few days has been characterised by consolidation under the $3 worth degree. This degree, which had acted as assist for many of August, was damaged to the draw back on August 28, and XRP is now buying and selling on the $2.8 worth zone.
Technical evaluation exhibits that the present sideways motion shouldn’t be mistaken for weak spot, as XRP is now on observe to embark on a rebound transfer to the upside.
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XRP Trading In Consolidation Phase
XRP’s current worth dip comes after the asset retested the $3 worth degree between August 26 and August 28, which for now has capped its upward momentum. Interestingly, increasing additional to a bigger candlestick timeframe exhibits this transfer has seen XRP shifting again right into a consolidation zone it has been buying and selling in because the starting of 2025. Its most up-to-date peak of $3.65 in July was an try to interrupt out of this consolidation zone, however the ensuing worth retracement has seen it fall again into the zone.
According to a technical evaluation from well-liked XRP analyst Egrag Crypto, XRP’s worth motion is marking up a bounce simply earlier than the subsequent transfer. In his publish on the social media platform X, he referred to the current construction as XRP’s consolidation earlier than the subsequent large transfer. His evaluation, which was plotted on a 2-week candlestick chart, exhibits how XRP is approaching the decrease trendline of a white zone.
Chart Image From X: EGRAG CRYPTO
This white zone, as seen within the worth chart above, encapsulates XRP’s varied makes an attempt to shut above its 2018 all-time excessive of $3.40. However, this has acted as an order block, and although XRP has damaged above this worth excessive in current months, it has but to shut above it on the bigger timeframe.
Nonetheless, regardless of the latest pullback, XRP remains to be above the decrease trendline of the white field. As lengthy because it retains buying and selling above $2.8, it provides bullish merchants the potential of one other leg greater.
Targets Point To Double-Digit Breakouts
The 2-week chart shared by Egrag Crypto additionally maps out daring double-digit projections for when the XRP worth closes above the white zone and the consolidation resolves in favor of the bulls.
The worth targets highlighted in his evaluation are at $7, $11, $18, and as excessive as $27 in the long term. These ranges are based mostly on upward-sloping trendlines on worth targets that go way back to 2016.
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The most urgent job for XRP is to clear the higher boundary of the white consolidation zone and set up a decisive shut above the $3.5 degree on the 2-week candlestick. The actual timeline for such a transfer is presently unsure, however Egrag Crypto’s chart initiatives the setup breaking out round late September 29, 2025.
At the time of writing, XRP is buying and selling at $2.83, up by 0.5% up to now 24 hours.
Featured picture from Getty Images, chart from TradingView
