Crypto Analyst Predicts XRP Potential Price Surge

XRP analyst Egrag Crypto, known for his comments on the token, published a post at the end of June. The analyst suggested that a small rise in the token could occur in a short time, and in the long term, the price could exceed $6.The analyst pointed to the current monthly candlestick formation, which closes above the 0.236 Fibonacci level. This formation is seen as a reflection of a consolidation that could potentially trigger a breakout and is not independent of the market.In this context, the target given by the analyst is seen to be the 0.5 Fibonacci level at $1. If XRP can possibly catch this momentum, the price could take much more significant steps towards $6.4. This mentioned price value means a 1200% increase. While the general views on XRP indicate a rise, it would not be wrong to say that this is fundamentally based on the outcome of the Ripple-SEC case.As of the time of writing, XRP is trading at $0.479 after a nearly 2% rise, which also means a 1.29% increase over the past 7 days.XRP’s market cap continues to hover around $26.6 billion, while the 24-hour trading volume has returned to $800 million after an 83% rise.

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