A prominent market technician has suggested that XRP and Ethereum might have their sights set on similar ambitious targets based on Fibonacci extension levels. The broader cryptocurrency market is attempting to recover from recent declines. Currently, XRP is trading at $2.81, striving to surpass the $3 mark, while Ethereum is on a quest to regain the $4,500 level, currently priced near $4,339.
Amid these short-term fluctuations, analyst EGRAG Crypto has highlighted that both XRP and Ethereum could share a long-term trajectory. In a recent analysis, EGRAG utilized Fibonacci extensions traced back to the 2018 peaks and 2020 lows of both cryptocurrencies, underscoring that they converge on the same target level: the 1.618 extension. For Ethereum, this zone suggests a major target around $8,000, while XRP’s target is approximated near $31.
Focusing on Ethereum first, its weekly chart begins with its peak in January 2018, where it reached $1,420 before plummeting to a low of $88.2 in March 2020. This low established a foundation for a multi-year upward movement. Fibonacci extensions from this range indicate key levels at $623 (0.702 ratio), $1,413 (1.0 ratio), $4,405 (1.414 ratio), and a critical long-term target between $7,700 and $8,000 (1.618 extension). EGRAG also identified an inverse head-and-shoulders pattern that has developed since 2021, suggesting a potential breakout towards the $8,000 Fibonacci level.
XRP’s chart reveals a similar pattern. XRP peaked at $3.31 in January 2018, dropped to $0.1140 in March 2020, and has been in a consolidation phase since then. The Fibonacci extension levels for XRP are set at $3.52 (1.0 ratio), $15.23 (1.414 ratio), and $31.34 (1.618 extension), leading EGRAG to project a target between $27 and $31.
While Ethereum’s chart displays an inverse head-and-shoulders structure, XRP demonstrates a massive contracting triangle that has persisted from 2018 into 2025. Recent breakout activity suggests that XRP is poised for significant movement, with the height of the triangle informing projections that align with the Fibonacci target around $31.
EGRAG’s analysis draws intriguing parallels between both cryptocurrencies. Notably, both Ethereum and XRP peaked in early 2018, reached their lows in March 2020, and are now climbing towards Fibonacci extensions derived from these significant price points. While some traders express confidence in Ethereum reaching its targets, EGRAG questions why similar optimism is not extended to XRP. Speculation suggests Ethereum could soar to as high as $15,000 to $20,000 in the coming months, while XRP’s potential remains relatively dismissed.
EGRAG also indicates that the current market cycle may extend into 2028, predicting that a major peak could occur in late 2025 before a downturn begins in 2026. He suggests that while Ethereum might hit its Fibonacci target first, XRP has the potential to eventually outpace it. Should Ethereum reach $8,000, its market capitalization would be approximately $965.6 billion, while XRP’s valuation at $31 would be around $1.84 trillion.
Investors are cautioned that the information presented is for informational purposes only and should not be construed as financial advice. Thorough research is advised before making any investment decisions, as the perspectives shared may vary and should not be considered the definitive outlook on market movements.
