This article is also available in Spanish.
Popular cryptocurrency analyst “Egrag Crypto” took to X (formerly Twitter) to reveal three important things Price targets for XRP in this bullish cycle. Although the price of XRP is experiencing an ongoing stagnation, the analyst has predicted a significant price increase of up to 4,800% for the popular cryptocurrency.
Related reading
Key resistance and support targets for XRP
On October 17, Egrag Crypto was released subscriber Three main goals for Ripple price Based on Channel B, XRP has struggled to break through the distinct boundaries for years. On the monthly time frame, XRP faces three primary and three resistance targets Support signs.
The price movement of XRP inside channel B is Restricted by key resistance levels This may determine whether the cryptocurrency is able to break free from its influence in the long term The unification cycle. According to the analyst’s XRP price chart, the first major resistance level appears around the $0.6450 price mark. Over the past few months, the price of XRP has risen above $0.6, raising hopes for gains Possible hack But it eventually dropped to $0.5.
A significant breakout from the $0.6450 level could indicate potential bullish momentum, but it will remain within the confines of Channel B. The second price target, $0.85, is a key target that XRP price has also struggled to maintain over the years. It also represents the middle range of the entire XRP B channel.
Finally, at the upper end of Channel B, which highlights the most important resistance level, there is a $1.1 threshold. A sustained breakout of this critical resistance could mean that XRP may finally break out of Channel B and rise to new levels.
In addition, these three major resistance levels help Key support levels. The first line of defense if XRP fails to reach $0.645 is the support level at $0.48. If the cryptocurrency also breaks down below $0.85, the next support could be seen at $0.38. Finally, if XRP fails to break the $1.1 resistance, it could find support around new lows at $0.28.
Bullish XRP price targets
While highlighting the key resistance and support levels for XRP, Egrag Crypto also emphasized three Bullish price targets for XRP If you can successfully close the monthly candle inside channel B. The first major breakout target sees XRP potentially rising to $7.5, at the 1.236 Fibonacci retracement level.
The next major session target is the 1.414 Fibonacci retracement level, with the potential for XRP price to rise to $13 and mark All-time highs. The ultimate and final target for the session, according to Egrag Crypto, is the 1.618 Fibonacci retracement level. If XRP can reach this level, its price could rise to $27, which would represent a massive increase for the cryptocurrency and possibly place it among the best-performing digital assets on the market.
Related reading
It is important to note that these predictions remain speculative, as at the time of writing the price of XRP is still trading at $0.54, according to CoinMarketCap.
Featured image from CPO Magazine, chart from TradingView