- XRP drops 2%, but selling pressure appears to be easing now.
- Analyst predicts XRP may rise to $27 within macro channel.
- Bullish chart pattern suggests possible breakout towards $6.5 soon.
XRP is currently down by over 2%, trading around $2.20. The price seems to be stuck in a tight range, but not everything looks negative for the cryptocurrency. While XRP has seen eight consecutive days of net outflows, recent market data shows that selling pressure is starting to ease — a possible signal that the token is approaching a bottom.
Bullish Patterns and Big Price Targets
Despite the current dip, several analysts remain positive about XRP’s future price action. Crypto analyst EGRAG Crypto has opened up about the ongoing formation of a pattern he refers to as the MACRO Channel, which spans between $17 and $55.
Source: EGRAG/X
According to his latest chart, XRP is currently forming “Candle 5” in this long-term structure. If historical behavior repeats, he believes the market could soon see a monthly candle, with $17 as a mid-term target. EGRAG has personally set a target at $27, with plans to gradually take profits as the price rises.
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New Setup Points to $6.50 as Next Breakout Zone
Another analyst has identified a bullish setup in XRP’s price chart. They predict a breakout to $6.5, a move that would represent a massive 200% gain from current levels.
There is a Descending Triangle formation combined with a bullish crossover in the daily Relative Strength Index (RSI). After a months-long downtrend in RSI since late 2024, this recent upward movement hints at a shift in market momentum.
Source: TradingView
The chart shows key resistance levels at $2.49, $3.00, and $3.39. The plan is for XRP to first break above the descending triangle, test these resistance zones, and eventually aim for $6.5 — with a slightly higher potential peak at $6.82.
Key Date for XRP’s Next Major Move
An important date to watch in this bullish forecast is Saturday, May 10, 2025. This could be a decisive moment for XRP’s trend.
Related: XRP Holds $2.20 Support as April 30 Nears – ETF Buzz Fades, Traders Eye Next Move
The token may either break through the $3 resistance zone with strong momentum or face a rejection, which could trigger a pullback to around $1.61.
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