Renowned crypto chartist Egrag Crypto, who has remained bullish on XRP, recently revealed a new XRP price projection.
According to his latest analysis, XRP could be on the verge of clinching a $1.2 selling price. As usual, the crypto analyst made his latest findings public via a post on X.
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Egrag captioned an XRP 12-hour price chart in his tweet, spotlighting several XRP support and resistance levels using different colored lines.
#XRP Targeting 🎯 $1.2 in a Maximum of 55 Days! 🚀:
— EGRAG CRYPTO (@egragcrypto) December 24, 2023
If the blue fractal unfolds, it'll signal an impending, rapid short-term surge on the horizon! 🌀📈
While 90% may feeling frustrated from #XRP’s current state, imagine the potential if it dips to 0.55-0.50c. Paper hands might… pic.twitter.com/RB5RJMrCoF
A Look Into XRP Resistance Levels.
The first resistance level spotted was at $0.5976, located at the Fibonacci (Fib.) 0.382 point. XRP broke above the $0.5976 in October and turned it into a support level in November. Since then, the bear seemed to impede the coin’s growth, resulting in it occasionally retesting the support level.
The second recognized resistance level was fixed at the $0.7495 price mark, with Fibonacci at 0.5. Notedly, XRP’s last attainment of the $0.7495 price level occurred on November 13. However, it was a transient uptrend, as XRP retraced eight days later by more than 20% to reach a price low of $0.5734.
The third stop that would ensue if XRP breaks through the $0.7495 resistance level was pegged at the $0.9399 mark, a price attained after the July 13 favorable verdict. This has been XRP’s most significant level, preventing the coin from reaching $1.
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Breaking through the resistance will usher in a new constraint at the $1.104 price level. A break above this resistance level would send XRP to the $1.2 price mark.
Meanwhile, Egrag noted that XRP might witness periods of decline to $0.55 or $0.5. However, he assured that the drop would pave the way for the rally, which would send XRP to the projected $1.2 price level.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Timeline For Reaching $1.2
According to Egrag, it will take a maximum of 55 days for XRP to break above the hurdles highlighted in this insight before a rise to the $1.2 price region.
Analyzing the 55-day timeline implies that XRP might be selling for $1.2 in February. Based on XRP’s current selling price of approximately $0.64, XRP attaining a $1.2 price mark would imply a surge of about 87%.
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