The XRP market has been on fire lately, with prices rising by 7.05% in the past week. Market analyst Egrag Crypto has shared an audacious technical analysis, suggesting that XRP may be gearing up for a major price upswing following recent gains. But will it hit $27? 🤔
XRP Price Outlook: Analysts Eye $9.7 And $27 Breakout Targets 🎯
Egrag Crypto’s positive prediction is based on XRP’s potential ability to repeat a price surge from its 2017-2018 bull cycle. In early 2018, XRP moved from a breakout range of $0.35-$0.39 to a local market peak of around $2.89. However, for XRP to show any potential in validating a repeat of this price surge, market bulls must reclaim the $3.4 price level.
Using this price level as a reference point, Egrag Crypto identifies $9.7 as the first major price target for XRP, mirroring the midpoint of its 2017–2018 breakout. The second, more intriguing target would happen if XRP produces an exact 718% price surge, suggesting a potential price target of approximately $27. 🤑
XRP Price Overview 📈
At the time of writing, XRP trades at $2.34 reflecting a 5.34% decline in the past 24 hours. However, its daily trading volume has increased by 8.56% and is now valued at $8.63 billion. To realize Egrag Crypto’s bullish prediction, XRP must push past immediate resistance levels at $2.62 and $3.0 before a fated encounter at the $3.4 price barrier.
Other potential bullish factors include a clear regulatory stance around XRP, a termination of the SEC’s appeal case against Ripple, and a widescale bull run across the crypto market. 📈💥
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2025-03-08 17:21