XRP Price Prediction: Crypto Analyst Expects 200% Jump As Critical Support Forms
December 12 2023 - 9:00AM
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Crypto analyst Egrag has provided insights into the current market
conditions of the XRP price from a technical analysis perspective.
He highlighted a critical support level for the crypto token and
also reasserted his bullish prediction for XRP when the bull run
returns. XRP Could Rise To $2 From This Support Level In a
post shared on his X (formerly Twitter) platform, Egrag mentioned
that XRP could rise to as high as $2 once it is able to hit the
support level of $1.2. He shared an accompanying chart to drive
home his point. From the chart, he noted that it was “intriguing”
that XRP hasn’t managed to close a monthly candle above $1.2 yet.
Related Reading: Bitcoin Price In Turmoil: Major Events That Could
Affect Price This Week Source: X He further mentioned that so far,
XRP has body candles, but a full-body candle hasn’t materialized.
Despite that, the crypto analyst is still bullish on the future
trajectory of XRP. He confidently said that XRP will hit $2 once
XRP “finally achieves a monthly candle close with a full body above
$1.2.” Considering that many seem to be losing hope in XRP’s
potential, Egrag suggested that this move will provide renewed hope
as he is convinced that it will trigger a “massive FOMO.”
Meanwhile, those who have continued to remain steadfast will be
hoping that Egrag’s prediction comes true as they believe that XRP
is long overdue for a significant rally. Egrag had previously
mentioned that XRP hitting $27 is a “plausible target,” considering
that XRP saw a parabolic move back in 2017, with the token seeing a
61,000% gain in 280 days. He once again reasserted his bullish
stance as he stated that he still has his sight set on the $27
mark. Token price fluctuates | Source: XRPUSD on
Tradingview.com XRP Price Retesting Trendline Crypto analyst JD
also recently shared an outlook of XRP on the charts. He mentioned
in an X post that XRP broke out of the multi-year trendline on the
Non-Logarithmic Scale. Following that, XRP is currently retesting
the trendline. Related Reading: Why Is Ethereum Price Down To
$2,200 Today? As to what the future holds for XRP, he noted that a
bounce-off on the weekly close is bullish, as that could signify a
breakout or retest. However, a break below the trendline could be a
false breakout. Source: X Meanwhile, another analyst,
Crytoes, recently noted that the bears are still in control when it
comes to the XRP market. He made this statement following XRP’s
daily close below the 21MA (Moving Average). At the time of
writing, XRP is trading at around $0.62, down in the last 24 hours,
according to data from CoinMarketCap. Featured image from
Watcher Guru, chart from Tradingview.com
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