EGRAG CRYPTO projects XRP to reach $17 in May and $27 in November.
The analyst believes Bitcoin pullback from ATH will create an XRP window of opportunity.
According to EGRAG, 2025 will be a year of Utility Bullrun.
A famous cryptocurrency analyst identified as EGRAG CRYPTO on X has set two targets for XRP in the coming months. In a recent post, the analyst shared a technically analyzed chart, using it to predict that XRP would trade for $17 by May. EGRAG also predicted the altcoin’s price would reach as high as $27 by November.
Memory updated#XRP May 2024= $17 or November 2024= $27!!!!I do not like the game of timing; it's like throwing darts blindfolded. Guessing the market's timing is challenging. However, I'll take a shot and state the following:A) White Ascending Triangle: ⬜️The breakout move… pic.twitter.com/pZlDv34FB0
— EGRAG CRYPTO (@egragcrypto) March 10, 2024
EGRAG based his XRP price projection on the ascending triangle technical analysis tool. Breaking his projection into two phases, the renowned analyst noted that Bitcoin recently reached a new all-time high (ATH) and might consolidate soon. He believes the flagship coin would pull back slightly before continuing upward.
Following his expectation, EGRAG believes the Bitcoin market dynamics would trigger a breakout for XRP, pushing the price to $17. He expects that to happen between April and July and considers the period a window of opportunity for XRP.
EGRAG CRYPTO’s XRP Analysis
EGRAG based his second XRP target on another breakout from an ascending triangle. He believes the actualization of that breakout will trigger the price to $27 by November. He expects the rally to continue into 2025, considering it a year of utility bull run.
Meanwhile, the analyst explained that the rationale behind his analysis is that Bitcoin will reach a cycle top of around $200,000, which would be 10x from the 2017-2018 cycle. He believes Bitcoin’s rally would involve multiple pullbacks due to washing out leverage from the system. Hence, he identifies Q4, 2024, and Q1, 2025, as his window of opportunity for XRP.
XRP traded for $0.627 at the time of writing, according to data from TradingView. EGRAG thinks the next twelve months could be crucial for XRP investors who master the dollar-sell average strategy.
The post XRP Would Reach $27 by November Ahead of 2025 Utility Bull Run: Analyst appeared first on Coin Edition.
