The cryptanalyst made a bold prediction of a significant increase in the price of XRP, predicting it to reach $7.5, despite the fact that the cryptocurrency is currently trading at less than $1. While this prediction may seem ambitious, if it comes true, it will mark new all-time highs for XRP and decisively end the cryptocurrency's multi-year downtrend.
On June 10, a crypto analyst known as “Egrag Crypto” shared his bullish predictions for the price of XRP on social network X (formerly Twitter). According to the analyst, XRP could reach the critical target of $7.5 before the start of 2025.
He expressed strong belief that the XRP price will break through the White Triangle pattern and reach a measured move at $1.5, effectively triggering a short but sustained upward momentum. Using a price chart of XRP from 2020 to 2026, Egrag Crypto showed a unique triangle pattern that highlighted the critical 1.618 Fibonacci zone in the $6.5 to $7.5 range.
The analyst noted that this 1.618 Fibonacci zone is a key resistance area, highlighting the importance of this range as an excellent profit-taking opportunity for investors. Considering XRP's current price, a rally to new all-time highs may seem far-fetched to many investors, as they have continually experienced long-term price stagnation in the cryptocurrency.
Egrag Crypto's bullish XRP outlook serves as a beacon of hope for XRP supporters who are anticipating a potential rise in the cryptocurrency's prices. The cryptanalyst urged XRP supporters to remain resilient and patient, emphasizing that an XRP breakout could follow the rise of other major cryptocurrencies in the market.
“Trust me, all we need is for other coins to rise to the level of XRP. The spin profit will be 100% invested in XRP because it is the black horse that I am betting all my bets on,” the analyst said.
Looking ahead, Egrag crypto also forecasts XRP to grow to mid-double digits. He said that if XRP can close each week above the 1.618 Fibonacci level, the cryptocurrency could see a new price target at the 2.414 and 2.618 Fibonacci levels. These levels indicate a potential bullish surge in the $25 to $45 range.
Despite Egrag Crypto's bullish forecast for the price of XRP during this cycle, the price of the cryptocurrency continues to decline rapidly. XRP has seen a disappointing price performance, recording a 2.15% decline in the last 24 hours.
The cryptocurrency has been consolidating around the $0.5 price mark for years. At one point this year, it even rose to $0.6, indicating growth as crypto market volatility dropped slightly.
At the time of writing, the price of XRP is trading below $0.5, showing a steady decline in its value compared to the previous month. The cryptocurrency's price is currently $0.47, marking a significant decline of 6.61% over the past seven days.
Despite the bearish indicators, XRP trading volume is growing. Within 24 hours, cryptocurrency trading volume increased significantly by 80.02%, highlighting the sustained interest and demand for XRP among crypto traders and investors.
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