‘You’ll Be Buying 2 XRP’s for Just $10’, Analyst Says Its Time to Bid Farewell to Single Digit Price Targets

According to analyst EGRAG Crypto’s latest XRP commentary, hitting the key $1.00 threshold now opens the door for prices to march towards $1.40 next. If XRP solidifies a monthly close above $1.00, EGRAG bids farewell to XRP’s single-digit days.

However, per his “Color Code” roadmap that visualizes potential price milestones, EGRAG emphasizes XRP’s path higher to $1.40+ stays intact amidst recent turbulence. If bullish momentum sustains, he envisions XRP reaching $10 for two tokens in the not-so-distant future.

“Get Ready, because in the near future, you’ll be buying 2 #XRP’s for just $10,” EGRAG noted.

Yet for such lofty targets to materialize, the technical landscape must substantially improve, according to quant platform AltFINS. Their automated pattern recognition algorithms identify an emerging “Channel Down” taking shape, signifying XRP’s prevailing downtrend.

Additionally, altFINS highlights show XRP recently broke below its 200-day moving average, confirming overall negative momentum dominating shorter timeframes. Until XRP can clearly breakout from this bearish channel and reclaim its 200-day MA, the platform suggests caution remains prudent.

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Drilling deeper, with XRP stuck range-bound between channel resistance at $0.55 and support at $0.45, opportunistic traders can react to fluctuations between these boundaries. However, for trend-followers, waiting for a breakout to signal a proper trend change is crucial before adopting steadfast bullish or bearish convictions.

In conclusion, while optimism runs high among parts of the XRP community, expecting an advance to $1.40 and eventual $10+, key technical levels must be overcome first to validate such an outlook.

If XRP’s developing channel breakdown and 200-day MA reclaim fail to materialize, altFINS’ neutral stance will give way to further downside projections. Monitoring these inflection points and momentum markers can clarify directionality.

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency