At its current position, XRP could take a path that leads to a $10 destination or embark on a trajectory that would result in an ultimate price of $27.
XRP is currently caught in a bullish position, but the ultimate value it would attain in the next bull run is contingent on the next direction it takes from this position. As highlighted by crypto analyst Egrag, depending on the route it takes, XRP could either head to $10 or skyrocket to $27 in the next two years, that is, 2025.
According to charts shared by Egrag, if XRP takes the “Blue Ascending Triangle” course, it could surge to $10 in the next two years. However, if the asset embarks on the “White Symmetrical Triangle” trajectory, its surge could result in a price as high as $27 by 2025.
#XRP White Symmetrical or Blue Ascending Triangle:
You choose your course of Action?
1) White Symmetrical Triangle $27
2) Blue Ascending Triangle $10The 20 MMA is the single confirmation that will provide clear signal for the #Bullrun. Close multiple closes above 20 MMA or… pic.twitter.com/DoqgyevFhS
— EGRAG CRYPTO (@egragcrypto) May 3, 2023
Egrag noted that the phenomenon that would confirm XRP’s breakout in either direction is the asset closing above the 20-day moving average on the monthly time frame. According to him, if XRP can register multiple closes above the moving average, it would serve as confirmation of a breakout to any of the directions.
Historically, each time XRP closed above the 20-day moving average monthly, it has always preceded a breakout. While either path would be considered a bullish outcome in this upcoming breakout, taking the white symmetrical triangle direction could potentially increase XRP’s price target by almost three times.
Notably, the XRP chart highlights some spaces within the blue ascending triangle and the white symmetrical triangle courses. Egrag emphasized that it is possible for XRP to move in directions that would fill these spaces before hitting its ultimate target. He noted that this would elongate the time needed to hit the target, but XRP could also take a shorter path and avoid these spaces.
Meanwhile, XRP is up $0.53% in the past 24 hours, currently changing hands at $0.4626. As previously reported by The Crypto Basic, analyst CryptoBull recently pointed out that the asset has been trading in a range between $0.28 and $0.55 in a year. Taking either of the directions spelled out by Egrag would signal a breakout from this range.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
