'Egrag Crypto', a renowned analyst, has predicted three key price targets for XRP, projecting a potential increase of up to 4,800% in the current bull cycle. Despite XRP's recent stagnation, these targets signal significant growth possibilities.
The analyst identifies three primary resistance levels on the monthly chart: $0.6450, $0.85, and $1.1. Breaking these marks could indicate a bullish XRP momentum, moving the cryptocurrency out of its long-term consolidation cycle.
If XRP surpasses these resistance points, three bullish price targets emerge. The first target is $7.5, based on the 1.236 Fibonacci level. The next, $13, aligns with the 1.414 Fibonacci level, marking potential all-time highs. Lastly, reaching $27, corresponds to the 1.618 Fibonacci level, presenting a monumental rise for XRP.
Provided XRP maintains support levels at $0.48, $0.38, and $0.28, these speculative projections could turn fruitful. However, one should consider XRP's current trading price of $0.54 and the inherently speculative nature of such predictions.
