XRP 3 Hammers and 3 Rockets, Here’s What’s Next?

Market analyst EGRAG Crypto has projected when the XRP uptrend will resume after identifying what he calls hammers and rockets on the daily chart. His analysis comes on the back of XRP's consolidation phase, which began after a drop from the $3.4 top in mid-January. Specifically, after XRP collapsed from the $3.4 peak , it immediately relinquished the $3 mark and has since consolidated around $2 over the past five months. XRP Sees Hammers and Rockets Within Descending Channel While the broader market takes a similar path, Bitcoin (BTC) has been witnessing new all-time highs . Now, EGRAG believes XRP is on the verge of breaking out of this consolidation phase, calling attention to a descending channel that has prevailed over the daily chart since November 2024. Interestingly, EGRAG's chart shows that XRP's upswings and declines since November have led to what he calls "3 hammers" and "3 rockets." Specifically, a hammer refers to the resistance presented by the bears when XRP attempts to break above the channel. Meanwhile, a rocket is the recovery push after XRP retests support at the channel's lower trendline. Notably, each hammer (or roadblock) has eventually resulted in a price correction, while each rocket (recovery effort) has led to a push toward a breakout.

For context, XRP saw three rockets at $1.95 on Dec. 20, 2024, at $1.76 on Feb. 3, 2025, and then at $1.61 on April 7, 2025. However, the three hammers came in at $3.4 on Jan. 16, 2025, at $3.02 on March 2, 2025, and then most recently at $2.65 on May 12, 2025. EGRAG Predicts When XRP Bull Run Will Resume Following the three iterations of each pattern, EGRAG asked for audience opinions on whether XRP would break out or go lower. In his view, the next direction from here could be upward. According to him, XRP could break out from this channel or consolidation structure by mid-June, with the uptrend persisting until August to September 2025. However, his projection came up days before the Israel-Iran war began, which has since skewed the direction of the market. As a result of the conflict, this timeline could be delayed.  Meanwhile, EGRAG provided several immediate targets around the breakout from the descending channel. Specifically, XRP would need to breach the $2.6 resistance to break above the channel. From the current price of $2.16, XRP must rise 20.3% to reach this price mark. XRP Breakout Targets Following a breakout from the channel, XRP's next immediate target could be the $3 psychological level, which it has failed to reclaim since March. Beyond this, the next target would be the yearly peak of $3.4. A break above this mark could open the door for greater price heights. While EGRAG failed to present his ultimate targets for when the bull run resumes, he had in previous instances suggested that XRP could reach the $20 range this cycle. Most recently, he predicted that XRP's top for this cycle could be $24. Meanwhile, last month, he predicted a possible XRP rally to $27.