XRP Price Analysis: Analyst Predicts Potential Surge to $15-$17 if $3.40 Resistance Breaks

XRP briefly rallied following the SEC's acknowledgment of Grayscale's XRP ETF filing, reigniting bullish momentum. While the surge has tempered, the $3 price level is again in focus. Crypto analyst Egrag Crypto projects a potential rise to $15-$17, citing a strong market structure. According to Egrag, XRP's price structure is trading within a bullish pennant formation. A measured move from the lower end of the pennant translates to a price target of $15. A more aggressive projection, using the pole leg from the top of the pattern, points toward a potential rally to $17. A confirmed breakout above $3.40 is crucial to validate this bullish trajectory, as this level acted as a significant resistance zone in January and doubles as XRP's all-time price high since 2018. At the time of writing, XRP is trading at $2.74. Egrag noted that the XRP price must achieve a strong close above $2.75 in order to sustain an upward trend and finally break above $3.