XRP Eyes $8.30 Target As Rare Chart Pattern Emerges – Crypto News – Crypto News
Connect with us
XRP Eyes $8.30 Target As Rare Chart Pattern Emerges XRP Eyes $8.30 Target As Rare Chart Pattern Emerges

Blockchain

XRP Eyes $8.30 Target As Rare Chart Pattern Emerges – Crypto News

Published

2 days ago

on

A drop to 83 cents could be the setup XRP investors have been waiting for.

Related Reading

Crypto analyst Egrag Crypto has identified a falling wedge structure in XRP’s price chart that spans nearly nine months, with the token trading around $1.30 after a prolonged slide.

Based on the analysis, XRP may fall further before any significant recovery — but that bottom could mark the start of a sharp move higher, potentially reaching $8.30.

Six Painful Months

XRP has now posted six straight months of losses, its worst such run since 2014. April is already trending negative, down 1.80% in the first days of the month. If it closes in the red, it would be the seventh consecutive monthly loss — a first in the token’s history.

The token peaked at $3.60 in July 2025. Since then, the price has been compressed between two downward-sloping lines — a resistance ceiling above and a support floor below. Each time the price has hit either line, it has reversed course. That back-and-forth movement is what defines the wedge pattern.

Two Key Price Levels Are Driving The Outlook

Egrag’s chart shows XRP may first push up to $1.80, where the upper resistance line sits. Reports indicate that level has rejected previous recovery attempts, most recently in early January 2026 when the price hit $2.41 and pulled back sharply. A similar rejection at $1.80 would send the price downward again.

From there, the projected path leads to approximately 83 cents — the point where the wedge’s lower support line meets a long-term upward trendline the analyst calls the Atlas Line.

XRPUSD currently trading at $1.30. Chart: TradingView

That level is described as the major floor for the current structure. Data from the chart shows XRP could then bounce back above $1.00, dip once more to around 91 cents to retest support, and then begin a larger move upward.

If that sequence plays out, the breakout target lands at $8.30.

The wedge has already absorbed several significant price swings. During a market selloff on October 10, 2025, XRP fell from $2.80 down to $1.36, touching the lower trendline. The price bounced from that level. In early February 2026, another drop brought the token to $1.11 before support held again.

Related Reading

Breakout Conditions Depend On Two Clear Boundaries

The bullish case has limits. According to Egrag’s analysis, a close above $1.80 on the upper resistance line would break the wedge pattern and cancel the current setup entirely.

On the downside, a drop below the 83-to-91-cent support zone would point to deeper weakness and raise the possibility of further decline beyond what the chart currently projects.

Featured image from Pexels, chart from TradingView

Related Topics:
Continue Reading

Trending