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XRP Still On Course For $6.7 as Market Cap Maintains 10-Year Trendline Support

Two new price projections on X show that XRP may be on the brink of a significant rally. These predictions are from prominent crypto analysts EGRAG CRYPTO (@egragcrypto) and JD (@jaydee_757), and one of them predicts that XRP could reach $6.7.

Both experts delved into XRP’s price movements. Their breakdowns of XRP’s price history show that XRP is about to experience a massive surge.

Read Also: Financial Expert Believes Ripple Share Could Reach $600, Sparking Potential Impart on XRP Price

EGRAG CRYPTO Predicts $6.7

EGRAG CRYPTO’s analysis revolves around assessing percentage gains during the former price surges. His focus is on single candle surges that showed a 300% increase or more. The cumulative outcome of these surges gives a remarkable average surge of 1,160% in XRP’s value.

EGRAG CRYPTO’s new analysis builds on a prior analysis, where he predicted a surge to $2. In that analysis, he highlighted two key XRP trading zones, Zone A and Zone B. These zones were supported by areas he called “Steel Foundations.”

XRP is trading at $0.5354. Although it is up 5.53% in the last 24 hours, it is still in Zone B, which ranges from $0.3263 to $1.6188. EGRAG CRYPTO expects it to break out of Zone B soon. This breakout will create a new zone with its foundation between $1.6188 and $2.

His new analysis predicts a price target for XRP’s surge. He states, “This leads us to a tantalizing price prediction of $6.7, nestled within the range of $6.5 to $7.”

JD’s Analysis of Market Cap Resilience

JD’s prediction centers on XRP’s market capitalization on the monthly chart. JD highlights the fact that the market cap has consistently held above a 10-year trendline, acting as reliable support.

The chart shows that XRP’s market cap has been a reliable support for the trendline since 2015. Interestingly, while maintaining this support, the market cap encountered another three-year downward trendline from 2015 to 2017.

Read Also: Ripple CTO David Schwartz: Higher XRP Prices Will Bring About Cheaper Payments

XRP broke free from the 3-year downward trendline during the 2017 rally, reaching its all-time high in January 2018. After this rally, XRP entered another downward trendline that has been going on for 8 years.

However, XRP’s market cap has shown resilience by continually finding support from the 10-year upward trendline. The convergence of this trendline with the 8-year downward triangle will form a symmetrical triangle.

The same triangle formed in 2017, which led to the surge that took XRP to its all-time high, and the new triangle could see XRP reach another all-time high. A few months ago, another analyst predicted that XRP could reach $6 by December. All these predictions seem to be pointing in the same direction for XRP, but are they feasible? Time will tell.


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Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
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