🚀Analyst Predicts XRP Price To Reach $27, Here’s Why $XRP Will Reach $27 🚀💰
Crypto analyst Egrag Crypto has predicted that the XRP price could reach $27 by next year, providing a bullish outlook for the coin.
Crypto analyst Egrag Crypto has predicted that the XRP price could rally to as high as $27 in this market cycle. The analyst also provided insights into why XRP could reach such an ambitious price target.
First, the crypto analyst mentioned when XRP crossed the 21 Exponential Moving Average (EMA) in the 2-week time frame, a move which led to the cycle top in 2017 following an explosive rally of 50,000%.
In applying a similar measurement to the current price action, an XRP crossover of the 21 EMA to $27 represents a price gain of 4,770%. Such a price rally would represent only 9.54% of the 50,000% surge recorded back in 2017.
Egrag Crypto is confident that XRP can reach this price target since it witnessed a more explosive move back in 2017. This isn’t the first time the crypto analyst has raised the possibility of XRP reaching such heights based on historical trends.
Such a price surge could also happen if the incoming SEC Chair Paul Atkins drops the Commission’s case against Ripple. The Ripple has undoubtedly had a negative impact on the coin’s price.
What To Expect In The Short-Term
In another X post, Egrag Crypto also discussed what to expect from the XRP price in the short term. The analyst stated that everything is just noise until one of these two things happens for XRP.
First, he highlighted $2 as one of the key levels to watch. The analyst remarked that a confirmed break below that target would send the crypto toward the lower targets.
On the other hand, the analyst stated that a break above $2.65 would cause the fireworks to “ignite.” Simply put, a break above this level would lead to a bullish continuation.
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