In a recent analysis posted on X (formerly Twitter), prominent crypto analyst Egrag Crypto has once again put forth his prediction that XRP, the popular cryptocurrency, is poised to reach $27 in the near future. This time, Egrag offered a detailed analysis centered around XRP’s 21 Exponential Moving Average (EMA) on the monthly time frame to support his forecast.
Egrag’s approach involved examining historical price movements relative to the 21 EMA, particularly noting the percentage changes in XRP’s price when positioned above or on this moving average. Based on this analysis, he confidently predicted that the digital asset has the potential to hit the $27 mark.
A chart shared by the crypto analyst illustrated his theory, indicating a correlation between XRP’s past percentage gains and the potential for a substantial surge. Notably, in 2017, XRP experienced an impressive rise of over 4500%, followed by a 1000% increase in 2018 and a 500% surge in 2021 after a period of consolidation.
XRP’s Potential: Analyst Predicts $5 in 90 Days
Before the anticipated surge to $27, Egrag forecasts that XRP could see a rise to $1.4 between March and April. According to his analysis, this milestone would set the stage for a “swift progression to $5 and beyond.” The $5 target aligns with Egrag’s bold claim that XRP will reach this level within a 90-day timeframe.
Acknowledging concerns among XRP investors regarding the cryptocurrency’s stagnant price action despite bullish predictions, Egrag cautioned against letting emotions dictate investment decisions. He emphasized the importance of adopting a strategic and disciplined approach, citing the necessity for building mental fortitude to navigate the dynamic and unpredictable nature of the crypto markets.
The current value of XRP is $ 0.531023, accompanied by a 24-hour trading volume of $ 853.14 million. Moreover, its market capitalization stands at $ 28.87 billion. Over the past 24 hours, the XRP price has seen a modest increase of 0.13%.
Related Reading | BNB Bull Flag & DApp Surge Indicate Price Rebound
Ammar Raza
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