There have been lots of bullish predictions about XRP in recent months. Although the digital asset has not been able to impress determined traders and investors due to its lethargic growth, analysts continued to hold their beliefs, stating that the crypto asset will soon embark on a meteoric price trend.
EGRAG CRYPTO tops the list of analysts with this strong belief in XRP and recently released a fresh bullish prediction with $7 in sight.
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EGRAG CRYPTO’s thorough analysis delves into XRP’s performance on the monthly chart, revealing a consistent upward trend since June. He states, “Since June lows and #XRP has been chugging along the tracks, and guess what? The train has officially left the station and is on its way to Valhalla!”
#XRP Train Left the Station 🚂:
Check out this Monthly Time Frame chart! Monthly wicks give us insightful hints, but it's those rock-solid candle bodies that really define market structure.
Since June lows and #XRP has been chugging along the tracks, and guess what? 🚆 The… pic.twitter.com/7wEa7DBmu3
— EGRAG CRYPTO (@egragcrypto) September 14, 2023
EGRAG CRYPTO shows a trendline on his chart labeled Rail A. This line could see XRP drop to anywhere from $0.40 down to $0.33. Another prominent crypto analyst also recently marked $0.46 and $0.39 as critical support levels for XRP. He stated that a drop to around $0.39 could trigger a bull run.
Acknowledging the possibility of a price drop, EGRAG CRYPTO points out that he employs Dollar-Cost Averaging (DCA) to stay ahead of potential market turbulence. He believes XRP will break out of this trendline and climb to new heights.
The chartist outlines $0.80 and $1.3 as “the next big hurdles.” $0.8 is the first step forward. After this, XRP will have to break through $1.3 for the real movement to begin. These could be strong resistance points, but crossing them will break XRP out of Rail A.
The Real Target for XRP
The real journey begins when XRP breaks through the $1.3 resistance level. EGRAG CRYPTO has predicted a jump to Rail B. The Rail B trendline is directly above Rail A and holds promise. The chart shows that XRP could go as high as $2.8 or up to $5.5.
However, it does not end there. If XRP keeps that momentum going, it could go up to $6 and $7. $7 will be almost two times XRP’s all-time high of $3.84.
XRP is currently up 1.42% in the last 24 hours, after crossing $0.5 on September 15 for the first time since September 11. Getting to $7 will represent 1,294.1% from its current price of $0.5021. These are ambitious targets that could bring substantial profits to investors.
A user asked EGRAG CRYPTO what would trigger the push, suggesting the Ripple IPO or Judge Torres denying the SEC appeal. The analyst replied with a gif pointing out that liquidity is the answer. His reply echoes a sentiment shared by a crypto analyst who said XRP needs liquidity to grow and not narratives.
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