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After shedding over 10% over the last two weeks, Ripple’s XRP remains trapped in a period of heavy market weakness. Even so, one popular crypto analyst maintains that the token’s broader chart structure still reflects a descending broadening wedge formation, a setup he says could eventually trigger a major upside breakout with potential targets as high as $11.
XRP’s Descending Wedge Setup Points to Potential Breakout
In a recent post on X, EGRAG Crypto argued that XRP’s current chart structure is far from accidental amid the latest price correction.
He noted that descending broadening wedge formations have historically culminated in a final aggressive sell-off before transitioning into a powerful upward move. Based on this pattern, the pundit believes XRP could still be on track for a major breakout.
For those unaware, a descending broadening wedge develops when price action trends lower within two diverging trendlines. In this setup, the upper resistance line slopes downward gradually, while the lower support line declines more steeply, creating an expanding wedge-like structure that often signals rising volatility before a major breakout.
According to data from EGRAG Crypto’s chart, XRP began forming the descending broadening wedge on the monthly timeframe after retreating from the $3.65 region in July 2025. Since that peak, the token has repeatedly printed lower lows, gradually shaping the expanding structure that now defines its current technical setup.
 
Is $11 XRP’s Next Stop?
With XRP currently trading within this structure, EGRAG Crypto identified several key price levels that traders are closely watching. He pointed to $1.11 as the most critical support zone, noting that this was the area where strong buying interest emerged during the February 2026 market meltdown.
Should bulls fail to defend the $1.11 support level — which also aligns with the lower boundary of the descending broadening wedge — XRP could face a deeper downside move toward the $0.32 region. That scenario would represent a steep decline of roughly 71% from the $1.11 support zone.
In his analysis, EGRAG Crypto also assigned a 43% probability to this bearish outcome from current market conditions, highlighting that while the broader structure remains intact, downside volatility cannot be ruled out if key support levels break.
On the bullish front, he identified the $3.00 threshold as the critical resistance zone to watch, noting that it aligns with the upper boundary of the descending broadening wedge. A decisive breakout above this threshold, he argues, would signal a shift in momentum and potentially validate a massive upside reversal for XRP.
From there, the commentator sees a broader expansion phase opening up, with upside targets ranging between $7 and $11 or higher if bullish momentum fully materializes. He also assigned a 53% probability to this scenario, suggesting that, in his view, XRP has a slightly higher chance of breaking upward and potentially advancing toward the coveted $11 milestone.
At the time of writing, XRP is hovering around the $1.36 mark, edging up just 0.6% over the past 24 hours, according to data from CoinGecko.