XRP to $17 or $27? Analyst Spots “Window of Opportunity” With Timelines

Many believe XRP has been suppressed over the last few years by the lawsuit with the U.S. Securities and Exchange Commission (SEC). However, Ripple’s three consecutive victories over the regulator have left many investors wondering why XRP has not regained the $1 level.

While the broader market enjoys a bullish run, XRP seems stuck. However, a recent analysis suggests a potential “window of opportunity” for XRP investors in the coming months.

Top Analyst Shares Bullish Predictions

Prominent crypto analyst EGRAG CRYPTO (@egragcrypto) identified technical indicators suggesting a significant upswing for XRP. He points to a white ascending triangle on his chart, a technical indicator often associated with bullish breakouts. The analyst believes that a breakout from this pattern could propel XRP’s price to $17.

This prediction hinges on a perceived pullback in Bitcoin’s price after its recent all-time high. The analyst suggests this window of opportunity for XRP would fall between April and July 2024, capitalizing on a potential market correction for Bitcoin.

A More Ambitious Target

EGRAG CRYPTO’s analysis goes beyond the short-term prediction. The analyst identified a yellow ascending triangle pattern, suggesting a more ambitious target price of $27 for XRP. As XRP trades at $0.6042 at the time of writing, these will require a surge of 2,713.6% for $17 and 4,368.7% for $27.

This long-term prediction is tied to the analyst’s belief that 2025 is the “year of Utility Bull Run” for XRP. This hinges on Bitcoin potentially reaching a cycle top of around $200,000, mirroring a tenfold increase from its previous peak.

Legal Clouds and Price Movement

While technical indicators paint a bullish picture, the ongoing legal battle between Ripple and the SEC remains a significant factor influencing XRP’s price. Currently, the legal battle seems to be in a holding pattern with no major developments expected to influence XRP’s price in the immediate future.

The next key dates are March 22, when the SEC must file its remedy-related brief, and April 22, for Ripple’s response. Many believe a favorable outcome will cause an XRP surge.

However, a prominent attorney recently argued that the settlement amount paid by Ripple for institutional XRP sales will not affect its price trajectory. He also revealed that the SEC will not appeal XRP’s non-security status. He predicted that XRP would hit a new all-time high in 2024.

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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.