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 To Surge 1160% Why!!!!!!!
This post is based on yesterday's insightful post looking at the 4-month timeframe, check it out here for better clarity, https://t.co/xCXt0GF6IL. 📆💡
Assumptions:
1️⃣ Measuring the percentage moves of these pumps. 2️⃣ Candle pumps must exhibit a… pic.twitter.com/y3Rn8kgfPq— EGRAG CRYPTO (@egragcrypto) September 27, 2023
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 $7.”
JD’s Analysis of Market Cap Resilience
JD’s prediction centers on XRP’s market capitalization on the monthly chart. JD highlights the fact that the market cap has consistently held above a 10-year trendline, acting as reliable support.
The chart shows that XRP’s market cap has been a reliable support for the trendline since 2015. Interestingly, while maintaining this support, the market cap encountered another three-year downward trendline from 2015 to 2017.
#XRP Market Cap (Monthly). We are still above the 10-year trendline creating a Symmetric Triangle on an Uptrend!
Forget being the 95% (dumb money) who lost the last couple bull cycles! Lets be the 5% (Smart Money) using a calculated strategy minus all partnerships/news!$XRP… pic.twitter.com/5W7UxO4jaJ
— JD 🇵🇭 (@jaydee_757) September 25, 2023
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.
Follow us on Twitter, Facebook, Telegram, and Google News
