XRP, the native cryptocurrency of the XRP Ledger (XRPL), is poised for an exciting journey towards its 2017 highs, with a potential price target of $27.
This path is from an updated analysis from prominent market analyst EGRAG CRYPTO (@egragcrypto). His comprehensive price analysis delves into macro and micro perspectives, providing valuable insights for XRP enthusiasts.
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Macro View: Aiming for the Stars
For the macro view, the analyst wrote, “Reviving echoes from the 2017 surge, aiming for $27 feels like a plausible target. The markers at $3 and $5.8 stand as critical milestones, yet pushing to $6-$7 might come with some turbulence. These ambitious goals paint a serious lunar picture for #XRP!”
The macro view paints a bullish picture for XRP, expecting the token to recreate the price movements from 2017, which saw it cross $2, and continue into January 2018, where it surpassed $3 to record its all-time high.
EGRAG CRYPTO believes the $27 target is plausible and highlights critical milestones at $3 and $5.8. However, the analyst warns of potential turbulence as XRP pushes towards $6-$7. He said crossing the resistance at that price range could send the token to the final destination of $27. This ambitious goal suggests a promising future for XRP and continues the chartist’s series of predictions targeting $27.
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Micro View and Fractal Patterns
Zooming into the micro perspective, the analyst writes, “Unveiling resemblances between the current price action and a yellow fractal pattern indicates a striking similarity. If this pattern persists, anticipate 0.55c followed by 0.75c before reaching the pivotal goal of $1.3, a crucial resistance level.”
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Drawing parallels with a yellow fractal pattern, the current price movement suggests a potential downward trend, followed by an upward trajectory for XRP. It could drop to $0.55 and then surge to $0.75, higher than the recent surge from the beginning of November.
EGRAG CRYPTO expects XRP to encounter a crucial resistance at $1.3. If the token can breach this resistance level, it might pave the way for further gains.
Optimism from Regulatory Clarity
According to the analyst, the impending bull run will bring a surge of liquidity into XRP, fueled by the cryptocurrency’s regulatory clarity.
With increasing clarity, XRP is a safer investment choice compared to its counterparts. This sentiment could drive significant price appreciation. As always, he asked the community to “stay steady” and prepare for the next bull run.
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