- XRP’s yearly “Candle 13” signals potential breakout to $17-$22, says analyst EGRAG CRYPTO.
- This follows a Bullish Engulfing pattern, hinting at a repeat of past 800% XRP gains.
- But, STEPH IS CRYPTO warns of a $564B liquidation wall for XRP near the $2.00 support.
XRP’s long-term chart is raising eyebrows across the crypto community, as analysts closely study its 12-month candle structure. Known for both explosive rallies and lengthy consolidation phases, XRP is hitting what some experts are calling a critical “make-or-break” point.
EGRAG CRYPTO, an analyst, identifies the current yearly candle Candle 13 as a potential breakout that could lead XRP to new heights. This development comes amid heavy market speculation and technical formations that hint at a sharp move. Significantly, XRP is trading around $2.28 , down slightly in the past week, but still well above major support levels.
XRP “Candle 13” Breakout Could Mirror 800% Gain
According to EGRAG CRYPTO, the 12th yearly candle set the stage for a bullish surge. This candle formed a textbook Bullish Engulfing pattern that started building momentum as far back as Candle 5.
From Candle 5 to Candle 11, price action consistently closed higher, setting up a powerful formation on the yearly chart. Candle 12 capped this with strong bullish momentum , signaling a shift in long-term sentiment.
Related: Confirmed: XRP Bull Flag Puts $5.50 Price Target on the Map
Now, Candle 13 appears to be the ignition point for the next phase of XRP’s trajectory. If the historical 800% gain from Candle 9 (2021) is repeated, XRP could surge to nearly $17.
This potential aligns closely with key psychological targets at $13 and $22, levels identified by EGRAG CRYPTO. These ranges are not arbitrary. They sit between significant resistance and breakout zones, suggesting a real possibility of reaching double digits.
STEPH IS CRYPTO Spots Massive $564B XRP Liquidation Wall Near $2.00
Meanwhile, adding a layer of immediate caution, STEPH IS CRYPTO highlights an equally compelling development. A massive liquidation wall around the $2.00 mark remains untouched. Over $564 billion in leveraged positions and stop orders sit at this level.
Despite a minor correction recently , XRP has not tested this price zone. If it does, the market could see a rapid and violent liquidation event. This could either flush out weak hands or fuel a strong reversal, depending on the outcome.
Related: XRP Price Action: Holds $2.30 Support, Bulls Eye $3.10 Target on Breakout Above $2.65 Resistance
Besides the liquidation threat, resistance near $2.50 continues to cap price advances. Breaking above $3.40, however, would suggest strength strong enough to validate long-term bullish predictions.
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