Crypto analyst Egrag Crypto highlights both short-term and long-term projections for XRP, with potential targets ranging from $4–$6 in the near term, extending to $33–$60 in the long haul. The analysis uses historical resistance levels, Fibonacci extension points, and a Parabolic Arc formation to derive these targets.
The key level at $3.00 serves dual purposes: a psychological marker and a previous cycle peak. If broken, Egrag identifies Fibonacci resistance levels at $4.30 and $6.40 as the next hurdles. Failure to break $3.00 could lead to a correction to $1.90–$2.00, with further risks of dropping to $0.90–$1.00 considered a 'Black Swan' event.
In the long term, parabolic arcs suggest XRP's price may form a broad bullish structure, conditional on confirming a monthly close above $3.00. Fibonacci levels at $8, $13, $27, and $67 serve as additional targets if specific criteria, like volume and momentum confirmation, are met during breakouts.
Egrag underscores the importance of maintaining momentum post-breakout at $3.00, which could validate targets in the $4-6 range and potentially open avenues for further ascension in line with parabolic goals.
