Analyst: XRP Setup Points to Potential $11 Breakout After Capitulation
Add ZyCrypto News On Google After shedding over 10% over the last two weeks, Ripple’s XRP remains trapped in a period of heavy market weakness. Even so, one popular crypto analyst maintains that the token’s broader…
XRP has fallen more than 10% over the last two weeks and remains under pressure, but one popular analyst says the token’s longer-term chart structure still favors a major rebound after one last capitulation event.
EGRAG Crypto, writing on X, argues that XRP is carving out a descending broadening wedge on the monthly timeframe — a pattern that often features a final aggressive sell-off before a sustained upside move. According to his read, the structure began after XRP retreated from roughly $3.65 in July 2025 and has since printed lower lows that form the expanding wedge.
What is a descending broadening wedge? It’s a setup where price moves lower between two diverging trendlines: the upper resistance slopes down gradually while the lower support drops more steeply. The widening range typically signals rising volatility and, historically, can precede a powerful breakout once sellers exhaust themselves.
Key levels highlighted by the analyst:
- Support: $1.11 — a critical zone where buyers stepped in during the February 2026 meltdown. This line also sits near the wedge’s lower boundary. If it fails, EGRAG warns of a possible slide toward about $0.32, a drop of roughly 71% from $1.11. He assigns a roughly 43% probability to that bearish scenario from current conditions.
- Resistance: $3.00 — the upper boundary of the wedge. A decisive break above this level would, in his view, signal a momentum shift and open the door to a broader expansion phase.
Bullish target range: Should XRP clear $3.00 and sustain bullish momentum, the analyst projects potential upside targets between $7 and $11, with an assigned probability near 53% for an eventual move higher.
At the time of the analyst’s note, XRP was trading around $1.36, up modestly over 24 hours according to CoinGecko. The takeaway is mixed: the descending broadening wedge implies the possibility of a strong reversal, but it also encompasses the risk of one more deep capitulation before that reversal can occur. Traders should watch the $1.11 support and the $3.00 resistance closely, and account for elevated volatility while the wedge pattern completes.