Important analysis draws attention for Ripple (XRP), one of the most popular cryptocurrencies. Most recently, the statements of an analyst named Egrag caused the $10 expectations for XRP to surface. The analyst argues that in the current situation, XRP is likely to rise to $10 or even $27. Here are the details…
The analyst shared his heartwarming predictions for Ripple
At its current position, XRP could either follow a path to a target of $10 or enter a trajectory that will result in a final price of $27. XRP is currently in a bullish position, but its ultimate value in the next bull run is important. This final value is thought to depend on the next direction it takes from this position. As crypto analyst Egrag emphasized, XRP price is at risk of changing depending on the route it will take. Because in the next two years, that is, in 2025, it can skyrocket to either 10 dollars or 27 dollars.
#XRP White Symmetrical or Blue Ascending Triangle:
You choose your course of Action?
1) White Symmetrical Triangle $27
2) Blue Ascending Triangle $10The 20 MMA is the single confirmation that will provide clear signal for the #Bullrun. Close multiple closes above 20 MMA or… pic.twitter.com/DoqgyevFhS
— EGRAG CRYPTO (@egragcrypto) May 3, 2023
According to the charts shared by Egrag, XRP will reach $10 if it follows the “Blue Ascending Triangle” route. So XRP has a chance to rise to $10 in the next two years. However, if the asset enters the “White Symmetrical Triangle” orbit, we will see a higher price tag. According to the analyst, there is a chance that the coin will enter this orbit and fluctuate, pointing to a price as high as $ 27 by 2025.
Egrag also talked about the phenomenon that will confirm the breakout of XRP in both directions. The analyst noted that this is when the asset closes above the 20-day moving average on the monthly time frame. According to the analyst, it is significant that XRP records multiple closes above the moving average. For this would serve as confirmation of a break in either direction.
Probability of 3x increase in XRP price
Historically, every time XRP closed above the monthly 20-day moving average, it was always preceded by a breakout. Both paths are considered as bullish results in this upcoming breakout. But the white symmetrical triangle aspect potentially nearly triples XRP’s price target. Specifically, the XRP chart highlights some gaps within the blue ascending triangle and white symmetrical triangle routes.
Egrag emphasized that it is possible for XRP to move in directions that will fill these gaps before reaching its ultimate goal. He stated that this will extend the time needed to reach the target, but XRP could take a shorter path and avoid these gaps. Meanwhile, XRP is up 0.5 percent in the last 24 hours, currently changing hands at $0.459. As cryptokoin.com previously reported, analyst CryptoBull recently pointed out that the asset has been trading in a range between $0.28 and $0.55 in a year. A transition to any of the directions outlined by egrag will signal a breakout from this range.
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