Analyst Predicts XRP Price at $27

In one of his posts, analyst Egrag Crypto predicted that the price of XRP could reach $27 during the current market cycle. To support his assumption, the analyst provided several statistical data points.

Firstly, he noted that when XRP crossed its 21-day exponential moving average (EMA) on a two-week time frame, it led to a peak cycle in 2017 after an explosive growth of 50,000%.

If a similar analysis is applied to the current price trend, then the crossing of XRP at the 21 EMA level of $27 signifies a price increase of 4,770%. Such a price jump would account for only 9.54% of the 50,000% growth recorded in 2017.

The cryptocurrency analyst is confident that XRP can reach this price target, as an even more rapid growth was observed earlier in 2017. This is not the first time that analysts believe XRP will reach such heights based on historical trends.