Prominent crypto analyst EGRAG CRYPTO (@egragcrypto) has drawn attention to XRP’s potential future in a recent analysis on X, sparking discussions within the XRP community.
The analyst highlights the intriguing fact that XRP hasn’t managed to close a monthly candle above $1.2, despite showing promising body candles. This behavior suggests a potential breakout may be imminent.
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EGRAG CRYPTO predicts that a full body monthly close above $1.2 could trigger a significant surge to $2, igniting a massive FOMO wave within the market. His chart highlights this $1.2 to $2 range as future support for XRP’s next big move.
#XRP: A Future of Support 📈🚀
Cast your eyes upon the chart below, dissecting the monthly timeframe. It's intriguing that #XRP hasn't managed to close a monthly candle above $1.2 yet. We've seen body candles, but a full-body candle hasn't materialized.
However, mark my words:… pic.twitter.com/Ndzi7TTtB2
— EGRAG CRYPTO (@egragcrypto) December 10, 2023
His sights are even higher, targeting a potential $27 price for XRP. While this may seem ambitious at present, this prediction isn’t EGRAG CRYPTO’s first prediction targeting $27. He has shown unwavering support for his prediction, and top crypto community members agree with the $27 target.
These predictions have sparked lively discussions within the XRP community, with many expressing excitement and anticipation. One user asked if $27 would be XRP’s peak for the next bull run, and the analyst said yes.
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Current State and Future of XRP
XRP is trading at $0.625, down about 5% in 24 hours. Lately, the token has experienced significant fluctuations while replicating the Bitcoin (BTC) market trend.
It experienced a surge in early November, and the subsequent correction was cut short by news of a BlackRock XRP ETF filing. However, this news was false, and XRP’s price dropped almost immediately.
Read Also: Google Bard Predicts XRP Price If Bitcoin Hits $530,000 As Projected by Bloomberg
The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission casts a shadow over the cryptocurrency, impacting its price and overall market sentiment. Although Ripple has had three consecutive victories over the regulatory body, this lawsuit has cost the company financially and hurt XRP adoption.
Despite these challenges, XRP remains one of the most actively traded cryptocurrencies globally, boasting a strong community and established partnerships with financial institutions. Additionally, XRP’s inherent utility as a fast, efficient, and cost-effective cross-border payment solution continues to attract attention and potential use cases.
While the road ahead remains uncertain, EGRAG CRYPTO’s bold prediction is a reminder of the immense potential that XRP holds. Although these predictions are for the next bull run, XRP’s surge might begin soon as anticipation builds for a Bitcoin ETF approval and the massive surges it will bring to the crypto market.
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