Crypto analyst Egrag Crypto has once again captured the attention of the cryptocurrency community with his bold price prediction for XRP, projecting that the altcoin could soar to an astonishing $27. In this latest analysis, he outlines the technical formation that could trigger a parabolic surge, fostering excitement among investors and traders alike.
How The XRP Price Could Reach $27
Egrag Crypto recently shared his insights on X, delving into the Linear Regression targets for XRP, which he identifies as $3.4, $10, and $27. He emphasizes that these price levels have emerged as significant markers based on the long-term Logarithmic Linear Regression Channel. Each target represents distinct implications for XRP’s trajectory and market sentiment.
Starting with the $3.40 target, Egrag Crypto describes it as the mean reversion point. He warns that a retest followed by a rejection at this level could signal strong bearish technical analysis (TA) for XRP. Crucially, he categorizes this target as determined by chart structure rather than foundational elements. A close above $3.40, however, would herald a return to macro bullish territory for XRP, setting the stage for further gains.
Next up is the $10 target, which Egrag Crypto identifies as the upper midline of the channel. This is a pivotal area where “full bull expansion” is typically initiated, with the target itself rising over time due to the logarithmic nature of the channel. He asserts that surpassing this price could mark a significant acceleration in XRP’s price movement, leading to a more robust bullish market.
Finally, Egrag Crypto spotlights the $27 target as the apex of the channel. He argues that multiple long-term confluences point toward this ambitious goal for XRP. This price level is increasingly seen as a dream come true for many investors who have held onto their tokens through market volatility.
It’s important to note that these predictions are occurring amid a backdrop of positive developments for XRP. Recently, Ripple achieved conditional approval for a national trust bank charter, which may enhance XRP’s utility and adoption going forward. Additionally, XRP has expanded its presence on the Solana blockchain with Hex Trust’s launch of a wrapped XRP token aimed at DeFi applications. Swiss bank AMINA Bank has also integrated Ripple payments utilizing XRP, signaling growing institutional interest.
The Major Levels To Watch Haven’t Changed
<spanAlongside Egrag's insights, fellow crypto analyst CasiTrades has indicated that the major levels for XRP have remained stable. According to CasiTrades, macro supports are positioned at $2.03 and $1.64, while macro resistance exists at $2.41. A crucial break above this resistance could confirm a bullish scenario for XRP, leading the altcoin toward the next targets, which are estimated at around $2.75 and $2.90.
Conversely, should XRP breach the macro support at $2.03, CasiTrades cautions that the price could dip below $1.97, potentially heading toward the key support of $1.64. This situation underscores the importance of maintaining vigilance in the evolving market landscape, as definitive confirmation of XRP’s next move remains absent.
<spanInterestingly, the world's largest IQ holder, YoungHoon Kim, has expressed optimism about XRP’s potential to achieve a new all-time high (ATH) by the end of this year. This bullish sentiment reflects a growing confidence in XRP's long-term prospects amidst a flurry of market developments and institutional endorsements.
As of this writing, XRP is priced around $2.01, experiencing a slight decline in the last 24 hours, according to data from CoinMarketCap. Investors and traders keenly await the upcoming phases of the market, hopeful that the outlined targets may be realized sooner rather than later.
