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- EGRAG CRYPTO expects the price of XRP to rise to $1.12, with support at $0.28 and a “total bottom” at $0.17.
- The analyst’s previous forecast ranged from $1.40 to $27 following Ripple’s court victory against the SEC.
- A rise to $27 would require XRP’s market capitalization to exceed $1.4 trillion.
Is XRP poised for a big rally?
Despite the recent decline in XRP prices and the overall decline in the cryptocurrency market, some analysts remain optimistic that the coin may head north in the following months. One example is User X (Twitter) who uses the handle EGRAG CRYPTO.
They recently foot A chart, through which XRP could experience a so-called “Candle of the Gods” that could push the valuation as high as $1.12. The currency first needs to overcome a major resistance level known as the “Berlin Wall” to have a chance at such a rally.
“Stay steady, maintain dollar cost averaging (DCA), and aim for a brighter financial future,” the analyst advised.
EGRAG CRYPTO also explained that the $0.28 line could act as a “life support,” while $0.17 could be considered a “total bottom.”
Their previous predictions for XRP
The analyst made another prediction at the end of September, Imagine XRP is expected to jump to $1.40 if it closes above certain key levels “with undeniable confirmation.” A few weeks later, EGRAG CRYPTO was released change They position themselves with a much more bullish forecast which envisions the asset trading at a whopping $27:
“I wholeheartedly support this exciting $27 ride, but we must also be prepared for the unexpected, which could put XRP’s legendary title, ‘The Rise of The Phoenix,’ to the test.”
This happened shortly after Ripple secured its second straight court win against the US Securities and Exchange Commission (SEC).
It is worth noting that such a price increase would require the market capitalization of XRP to rise above $1.4 trillion. In comparison, the entire market cap of the cryptocurrency industry was around $3 trillion during its peak in 2021.
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