When Is XRP Price Breaking Out Beyond The $3.38 ATH?

• A technical analyst confirmed that XRP could emulate its 2017-2018 rally to a record-high price by July or September this year.

Bitcoin (BTC) has been experiencing a series of new all-time highs (ATHs) since November last year. Despite its price riding on this development, XRP has come up a few cents short of conquering a new record peak.

Several members of the cryptocurrency community remain on the lookout for signs that could bring XRP price back or above its ATH of $3.84 seven years ago. Egrag Crypto, a popular technical analyst on X, who correctly called for XRP’s resurgence to $1 last year, previously discussed the high probability for the token to emulate its 2017 rally this year. Interestingly, he targeted July to September as the start of the momentous occasion.

Confirmation of the July or September XRP Price Rally

Recently, the technical analyst confirmed that XRP is still well within the possible schedules he predicted earlier. He grounded this forecast in the historical 334-day triangle patterns integrated within Fibonacci retracement and extension zones, which plot the key support and resistances of the token’s values in different phases on a long-term basis.

ADVERTISEMENTXRP Forecast (Source: Egrag Crypto)The popular crypto personality on social media claimed that breakout timings tend to occur at the 75% or 95% ranges of the pattern. Hence, his readings indicate the first week of July for the 251-day estimate and mid-September for the 317-day window.

XRP Historical Breakouts (Source: Egrag Crypto)The same chart suggests that XRP price could be due for a resistance at around $3.35 in the initial phase of the bullish trend. If it does not hit the brakes by then, the token’s sustained momentum could bring its values by up to $27 at the end of the cycle, aligning with the other model he identified as the “Guardian Arch” formation early this month.

Guardian Arch (Source: Egrag Crypto)## Other Catalysts for the Bullish Outlook

Outside the technical charts of crypto personalities, even analysts within Traditional Finance (TradFi) appear to be bullish for XRP. In February, The Motley Fool boldly proclaimed that the token could have its “Bitcoin moment” this year. The positive outlook is anchored on several key developments within its ecosystem.

ADVERTISEMENTFirst, there’s the evidently growing adoption of the XRP Ledger (XRPL) for cross-border payment platforms.

Second, there’s the much-anticipated finality to the US Securities and Exchange Commission’s (SEC) case against Ripple, which would significantly help ease investor sentiment.

Third, the pending spot XRP exchange-traded funds (ETFs) are due by October, which Bloomberg analysts believe have a 95% chance of approval.

Fourth, major markets like the US are paving the way for clearer and more favorable rules for crypto, which could further boost retail and institutional demand, as well as innovation, within the digital assets space.

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