The XRP price is up around 2.5% this week and is now trading above the $0.54 area. What’s more interesting for Ripple’s token is that it still has a huge community, with many elite crypto analysts making viral XRP price forecasts.
One of them is EGRAG CRYPTO, who posted a new XRP price prediction today via his X (formerly Twitter) account.
Breaking Down EGRAG’s Bold XRP Analysis
The analyst’s detailed chart shows two distinct macro consolidation zones, labeled as “Area A” and “Area B.” According to EGRAG, XRP previously consolidated in Area A before experiencing a significant drop into what he calls “Drop Zone A.” Now, as the token trades in Area B, the analyst suggests another major XRP price movement could be on the horizon.
EGRAG identifies $2 as a crucial trigger point for XRP’s potential upward movement. His analysis suggests that if XRP breaks above this level, it could catalyze a surge toward $15, which he considers a minimum target. Even more intriguingly, the analyst predicts potential further consolidation between $15 and $115, in what he terms “Area B*.”
In his analysis, EGRAG draws attention to volatility comparisons. The projected move from $15 to $115 would represent a volatility of 666.67%, notably lower than a previous surge from $0.15 to $2, which saw 1233.33% volatility. This comparison suggests that while significant price appreciation might occur, it could happen with relatively less market turbulence than previous rallies.
The analyst’s monthly chart, spanning back to 2014, maps out these consolidation zones and potential “drop zones,” using historical data to support his macro analysis. These zones, marked by dark blue horizontal bands, represent areas where XRP has shown significant price activity in the past.
Historical drops and bounces are marked, suggesting that the previous consolidation in Area A led to a significant downward move to Area B. The same logic applies to a future upward move toward $15 and potentially $115.
Read also: Solana (SOL) Price Explosion Imminent? Key Levels Hint at a Significant Upswing
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