Here’s XRP Price Implication if W Formation Pushes

Market technician EGRAG Crypto has identified a W pattern formation on the monthly XRP market cap chart, suggesting an imminent run beyond $1 trillion.

EGRAG disclosed this in a recent commentary, where he focused primarily on the XRP market cap chart. His analysis comes as XRP price continues to linger around the $2 mark, leaving its market largely between $120 billion and $145 billion since last month.

XRP Market Cap Forms W Pattern

According to EGRAG, the market cap, a direct product of XRP price action, is now in a bullish position. His monthly chart confirmed that the XRP market cap has now formed a W pattern, which also resembles a classic cup and handle structure. This indicates that a breakout to the upside is imminent.For context, the formation of the pattern began as far back as 2018. Notably, XRP market cap dropped from a peak of $128.5 billion in January 2018 to hit a low of $5 billion in March 2020 before recovering to another high of $89 billion by April 2021. This formed the first part of the W pattern.

Interestingly, after the $89 billion top in April 2021, the XRP market cap collapsed again to another low of $13.88 billion by June 2022 following the Terra collapse that year. Now, the market cap recently rebounded to claim a new all-time high of $195 billion in January 2025. This second wave of movements completed the W formation.