Analyst Expects XRP to Hit $17 with Mega Monthly Candle, Then $55 After Macro Channel Breakout

A notable market commentator sees XRP breaking into the upper finish of the three-digit territory, citing historic macro knowledge.

XRP has not fared nicely over the previous few months after surpassing $3.3 in mid-January. The asset collapsed from this seven-year peak amid the bearish stress that engulfed the broader crypto market from February. XRP dropped 29% in February and an extra 2.58% in March.

Nonetheless, whereas its April efficiency has been extra encouraging, it has failed to watch any substantial uptick, persistently ranging across the $2 lows. Curiously, market analyst EGRAG believes this consolidation will quickly finish, highlighting a long-term macro channel.

XRP Observes 6-Candle Sample 

In his newest analysis, the market watcher seen XRP’s conduct inside this macro channel on the month-to-month chart. Notably, its historic knowledge reveals a sample the asset has adopted inside this channel, in the end resulting in a powerful worth run.

This sample entails the formation of six key month-to-month candles above the 21 EMA. For context, XRP witnessed this sample within the second half of 2017 following its spectacular 801% spike from March to Could 2017. Notably, after this run, XRP noticed a correction and subsequent consolidation that lasted for months.

Throughout this consolidation, the asset noticed an enormous purple month-to-month candle in July 2017 because it dropped 34% that month. The second candle was a bullish one, resulting in a 58% acquire in August 2017. In the meantime, the third candle, in September 2017, resulted in a 23% loss. 

The fourth candle noticed giant upswings however closed with a 0.92% loss, and the fifth one set the stage for the restoration push, with a 19% acquire in November. Curiously, XRP then witnessed an enormous inexperienced candle in December 2017, spiking by a powerful 746% inside that month because it accomplished the six-candle sample.

XRP to $17 if Historical past Repeats

EGRAG believes this construction is enjoying out once more. Notably, after the preliminary 283% rise in November 2024, XRP has already witnessed 5 candles. These 5 candles led to a 6.43% acquire in December 2024, a 46% enhance in January 2025, a 30% loss in February 2025, a 2.56% drop in March 2025, and now, a 4.84% rise in April 2025.

The market analyst believes this near the April candle units the stage for an enormous run through the sixth candle in Could 2025. In line with him, if historical past repeats, XRP will see one other “mega month-to-month candle” in Could 2025, with a worth goal of $17. Such a rally would mark a 672% enhance from the present worth of $2.2.

One other Potential Surge to $55

Nonetheless, EGRAG expects XRP to see larger costs from right here. It bears mentioning that these 5 candles have remained throughout the earlier recognized macro channel. Nonetheless, with XRP’s surge to $17, the chart reveals that the asset would breach the higher boundary of the channel.

In line with EGRAG, this breach in itself may set off one other upside transfer. From the preliminary $17 goal, EGRAG sees XRP hovering by one other 223% to $55. Notably, analysts similar to Cryptominder have additionally projected a attainable XRP rally to the $50 area.