- EGRAG combines Gaussian Channel, Kangaroo Technique, and Elliott Wave to predict XRP rally
- Critical $1.75 support must hold while $2.65 breakout could trigger “go-go signal”
- Elliott Wave analysis suggests 477% gain potential targeting $9-$10 price range
Market analyst EGRAG has outlined a comprehensive technical analysis suggesting XRP could achieve double-digit prices through a combination of the Kangaroo Technique, Gaussian Channel analysis, 21-week Exponential Moving Average, and Elliott Wave Theory.
His multi-faceted approach identifies current consolidation patterns that could transition into a strong uptrend if key technical levels hold and resistance breaks occur within specific timeframes.
The analysis centers on XRP maintaining position above the Gaussian Channel’s top line at $1.75, which EGRAG considers critical for preserving bullish momentum. Weekly closes above this level support continuation of the upward trend, while failure to hold could trigger deeper pullbacks that would compromise the technical setup. Current price action around $2 provides a buffer above this crucial support zone.
Kangaroo Technique and Historical Pattern Recognition
EGRAG’s Kangaroo Technique places icons at key price zones including $0.06 and $3.40, with historical precedent supporting their importance. The kangaroo icon near $0.06 in 2017 preceded XRP’s explosive rally to the $3.8 all-time high, suggesting these markers identify potential launchpad areas for major price movements.
The recent appearance of another kangaroo icon at $3.4 implies this level could serve a similar function, providing a foundation for the next major upward move. The 21-week EMA currently sits below XRP’s price, confirming bullish sentiment as long as the cryptocurrency avoids closing beneath this moving average.
EGRAG draws parallels to 2017’s price pattern, noting a similar buildup phase before the breakout to $3.8 in January 2018. He suggests XRP could repeat this pattern if a breakout materializes in July, though failure to rally during this timeframe could result in sideways movement extending up to 110 days.
The next major resistance level sits at $2.33, positioned just above the current EMA. Breaking through this threshold could strengthen bullish momentum and set up a test of the critical $2.65 level that EGRAG labels the “go-go signal.” A weekly close above $2.65 would confirm firm upward movement and potentially trigger the broader rally scenario.
Despite recent market-wide weakness that pressured most cryptocurrencies, XRP has maintained the $2 support level, keeping it comfortably above the crucial $1.75 Gaussian Channel line. EGRAG views recent price declines as normal volatility within the consolidation pattern rather than trend breakdown signals.
