- XRP analysts eye $17–$55 targets as historical Candle 5 pattern signals major breakout
- Ripple clarifies missing XRPL ledgers, boosting trust and transparency in the blockchain
- XRP holds $125B market cap despite 7% weekly dip, with investors optimistic on macro move
XRP is once again making waves in the crypto market as analysts turn their focus to a potential macro breakout. Egrag Crypto, a well-followed technical analyst, has highlighted a promising pattern unfolding on the monthly chart.
According to his assessment, XRP has entered Candle 5 of a repeating sequence that, historically, leads to a substantial price surge. With current momentum and historical behavior aligned, the possibility of XRP hitting $17 or even higher is gaining traction.
#XRP – MACRO Channel ($17-$55) 💪:
— EGRAG CRYPTO (@egragcrypto) April 30, 2025
We're currently in Candle number 5, and if history is any guide, we could be looking at a MEGA Monthly Candle! Following the same pattern, the target of $17 is definitely in play. 🔥
Now, let’s discuss the MACRO Channel breakout. The measured… pic.twitter.com/Qu7tYGG0fJ
Macro Channel Hints at a Mega Move
Egrag Crypto’s analysis places XRP within a well-defined macro channel, suggesting long-term price movement between $17 and $55. These are not arbitrary numbers. Instead, they stem from measured move calculations based on previous breakouts.
The upper bound at $55 might seem ambitious, but it is grounded in technical reasoning. As XRP continues to consolidate and respect key support zones, this projection remains on the table.
Besides the $55 target, Egrag emphasizes $27 as a personal milestone, planning to sell in increments as the price rises. This staggered approach to profit-taking reflects cautious optimism amid a volatile market. It also aligns with broader investor sentiment, which supports scaling out as prices rise to minimize risk.
Current Market Overview
At press time, XRP trades at $2.15, showing a modest decline of nearly 2% in the last 24 hours. Over the past week, the coin has slid by 7.28%, reflecting short-term market pressure.
Even so, XRP maintains a strong presence with a market cap exceeding $125 billion and a circulating supply of 59 billion tokens. The recent dip has not dampened enthusiasm among long-term holders anticipating a major breakout.
Missing Ledger Mystery Finally Clarified
In a parallel development, Ripple’s CTO David Schwartz has addressed a long-standing concern about the XRP Ledger. The community has often questioned the absence of the first 32,569 ledger entries.
We created many ledger streams in the process of testing and developing the software. In one of many streams, a software bug caused some ledgers (about ten days) to be lost. All but the first 32k or so were recovered. We expected the next ledger reset to make the issue…
— David 'JoelKatz' Schwartz (@JoelKatz) May 5, 2025
Schwartz explained that a bug during XRPL’s early testing phase caused the loss of those blocks. Contrary to speculation, the loss was unintentional and linked to technical errors during development.
Consequently, Ripple opted not to wipe the ledger again, which would have erased even more historical data. This transparency is crucial for bolstering trust in XRPL’s decentralization. The resolution of this issue removes a lingering shadow over XRP’s past, allowing investors to focus on future growth.
