Crypto analyst EGRAG spots an ambitious yet logically sound bull case for XRP built upon the confluence of key Fibonacci price levels. If historical growth patterns persist, a parabolic $27 upside target materializes, representing life-changing 1350% gains from current levels.
What you'll learn 👉
Reclaiming Crucial Fib Trendlines
EGRAG explains the Fibonacci Speed Resistance Fan (FSRF) methodology, which projects support and resistance trajectories based on crucial Fib price multiples. XRP appearing to establish multiple daily closes above the key FSRF 0.5 midline in recent weeks signals bullish momentum building.
With the FSRF 0.618 level already undergoing testing around $0.75 currently, reclaiming this on an hourly close cements the breakout. The next upside barriers then emerge at FSRF 0.75 near $1 and the critical 1.618 Fib extension level around $1.5.
Breaching the round number handles with conviction likely ignites media attention and investor FOMO, providing rocket fuel for XRP’s next impulse wave higher.
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Show more +Macro Target At $27
While ambitious targets exist at each incremental Fib handle, EGRAG maintains that the cycle top envisions XRP reaching $27. This logical target requires claiming each prior speed resistance fan trendline and Fib extension to build momentum.
According to EGRAG, XRP should breach key resistances at $0.75, $1, $1.5, and $1.96 before the token can likely surge to the $27 level.
The key trigger for kickstarting the parabolic advance rests with decisively conquering the immediate 0.75 resistance after multiple failed attempts already. Developing a clean breakout here should set the stage for rapid mean reversion towards record highs.
The daily Relative Strength Index (RSI) reading of 59.53 for XRP indicates the asset is no longer oversold, but room remains for the rally to continue further in the short term.
So in summary, the current 59.53 RSI reflects a healthily developing bounce for XRP in its early upswing stages. RSI gives the rally the benefit of doubt until hitting overbought readings in the 70–80 zone. This suggests the potential for XRP to move higher with prudent risk management.
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