As a researcher with extensive experience in the cryptocurrency market and having closely followed the XRP price movements over the years, I find myself intrigued by the recent predictions of a potential XRP price surge to $27 by EGRAG Crypto. Given the 50,000% rally that XRP experienced in 2017 following a similar crossover pattern, there is certainly a compelling argument here.
The price of XRP has been experiencing selling pressure in recent times due to the market-wide crypto downturn, especially with Bitcoin. Despite this, analysts remain optimistic and predict bullish targets. Specifically, EGRAG Crypto anticipates a potential rally up to $27 based on the current technical analysis for XRP.
In my latest analysis, I posited that Ripple‘s XRP might reach $27 within this market cycle, based on the indications from the statistical chart patterns. Referencing past trends, I pointed out that when XRP initially breached the 21 Exponential Moving Average (EMA) in a two-week timeframe, it triggered an impressive rally back in 2017, with the price soaring by a staggering 50,000%.
By using comparable methods for today’s market, EGRAG Crypto estimates that a jump in XRP price to $27 would equate to a staggering 4,770% increase – which is only slightly more than one-tenth of the growth seen during the 2017 surge. The analyst believes this goal is attainable for XRP, drawing attention to the powerful surge in value the coin demonstrated back in 2017.
Source: EGRAG Crypto
In spite of the market’s recent volatility, XRP optimists have successfully kept the price above the significant support threshold of $2.0. If it can surpass the immediate resistance at $2.65, there’s potential for a rally that could take XRP back to its previous peak of $3.84 and potentially beyond.
XRP Price ATH Coming with XRP ETF Approval?
After Donald Trump’s win in the 2024 U.S. Elections, financial experts are optimistic that Ripple will resolve its ongoing dispute with the Securities and Exchange Commission (SEC). This potential resolution could signify the conclusion of a four-year legal saga. Cryptocurrency market analysts are particularly excited about the prospective leadership of Paul Atkins as the new SEC Chair.
1) The price of XRP has surged by 300% since Donald Trump’s election win, and experts predict even more growth in the future. On a different note, there is increasing interest in a spot XRP ETF due to a resolved lawsuit. Major financial players such as Bitwise, Canary Capital, 21Shares, and WisdomTree have already submitted applications for an XRP ETF with the U.S. Securities and Exchange Commission (SEC).
The approval could trigger a renewed interest pushing the XRP price to double digits and beyond. Furthermore, an XRP ETF will also pave the way for institutional participation in the XRP cryptocurrency.
In addition to Bitcoin, many alternative cryptocurrencies have experienced a sharp decline lately but have found some stability. Despite the market showing signs of nervousness, experts predict that the “altseason” may still continue and potentially lead to a significant surge in 2025.
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2024-12-27 11:56