XRP’s price action in the past few days has been characterized by consolidation below the $3 price level. This level, which had acted as support for most of August, was broken to the downside on August 28, and XRP is now trading at the $2.8 price zone.
Technical analysis shows that the current sideways action should not be mistaken for weakness, as XRP is now on track to embark on a rebound move to the upside.
XRP Trading In Consolidation Phase
XRP’s recent price dip comes after the asset retested the $3 price level between August 26 and August 28, which for now has capped its upward momentum. Interestingly, expanding further to a larger candlestick timeframe shows this move has seen XRP moving back into a consolidation zone it has been trading in since the beginning of 2025. Its most recent peak of $3.65 in July was an attempt to break out of this consolidation zone, but the ensuing price retracement has seen it fall back into the zone.
According to a technical analysis from popular XRP analyst Egrag Crypto, XRP’s price action is marking up a bounce just before the next move. In his post on the social media platform X, he referred to the present structure as XRP’s consolidation before the next big move. His analysis, which was plotted on a 2-week candlestick chart, shows how XRP is approaching the lower trendline of a white zone.
Chart Image From X: EGRAG CRYPTO
This white zone, as seen in the price chart above, encapsulates XRP’s various attempts to close above its 2018 all-time high of $3.40. However, this has acted as an order block, and even though XRP has broken above this price high in recent months, it has yet to close above it on the larger timeframe.
Nonetheless, despite the most recent pullback, XRP is still above the lower trendline of the white box. As long as it keeps trading above $2.8, it gives bullish traders the possibility of another leg higher.
Targets Point To Double-Digit Breakouts
The 2-week chart shared by Egrag Crypto also maps out bold double-digit projections for when the XRP price closes above the white zone and the consolidation resolves in favor of the bulls.
The price targets highlighted in his analysis are at $7, $11, $18, and as high as $27 in the longer term. These levels are based on upward-sloping trendlines on price targets that go as far back as 2016.
The most pressing task for XRP is to clear the upper boundary of the white consolidation zone and establish a decisive close above the $3.5 level on the 2-week candlestick. The exact timeline for such a move is currently uncertain, but Egrag Crypto’s chart projects the setup breaking out around late September 29, 2025.
At the time of writing, XRP is trading at $2.83, up by 0.5% in the past 24 hours.
Featured image from Getty Images, chart from TradingView
