Just caught Egrag's latest take on XRP and the macro setup looks pretty interesting. He's mapping out this W pattern on the monthly chart, saying we've already had the first breakout back in 2025 and we're currently in that second leg pullback that started around October. Down over 56% from the highs, but according to Egrag, this is actually a textbook W formation if it plays out.

The key zones everyone's watching are $1.60 to $2.00 - Egrag calls this the make-or-break area. If XRP can reclaim and hold above $1.60-$1.80, the bullish structure stays intact. A decisive break above $2.00 would be the real confirmation signal, which could then target $3.30 initially. From there, Egrag's looking at potential expansion all the way to $22, though he puts that scenario at only 25-35% probability.

More realistic? He's giving 50-60% odds that XRP tops out somewhere in the $3-$8 range. There's also a 10-15% chance of a deeper reset if things break down. The invalidation point is clear too - if we lose the $1.20-$1.40 support, that W pattern fails and we're looking at a longer-term downtrend.

XRP is sitting around $1.33 right now, down about 7.4% over the past week. Pretty much at those critical support levels Egrag mentioned. Honestly, the $1.60-$2.00 zone is going to be where traders decide if this bullish narrative is real or just another fake-out. Worth keeping on the radar.