Top Analyst Sets XRP Short-Term Targets, Explains Why $10 is Achievable

Renowned market analyst EGRAG recently presented his short-term XRP targets, noting the importance of hitting these levels and explaining why the $10+ goal is achievable.

The analyst made this disclosure in a recent X post where he shared his optimistic outlook for the digital asset. Before setting up his short-term targets, EGRAG first emphasized that should XRP hit them, it would trigger bullish momentum for the asset.

EGRAG’s first short-term target stands at $0.6530, a price point that XRP clinched but immediately relinquished two days ago. Surpassing $0.6530 could take XRP to the $0.6720 target, which represents a 7.20% rise from the token’s current value.

The analyst’s third target sits on the much-coveted $0.7000 psychological territory. XRP has continuously faced resistance at this price level, with its latest futile attempt to capture it coming up on Dec. 9. However, EGRAG presents a broader vision that extends beyond the immediate targets.

EGRAG focused his analysis on the $1 mark, with a projection extending beyond mere numerical objectives. For EGRAG, hitting $1 is not just a goal, it’s about establishing a robust foundation that propels XRP to stand firmly above this level for an extended period. 

Why XRP to $10 is Achievable

The analyst then sought to explain the reasoning behind the ambitious $10 target and beyond, asserting that the mathematical dynamics make such achievements not only plausible but potentially easier. 

EGRAG drew parallels between percentage moves at different price points, attempting to show the comparable challenges faced in various scenarios.

The chartist used a straightforward example to illustrate that a 1,000% increase or a tenfold jump from $1 to $10 carries a mathematical weight similar to moving from 0.10c to $1. He emphasized the correlation between percentage moves below $1 and those from $1 to $100.

The analyst clarified that both price jumps carry the percentage increase despite the differing numerical values. For instance, moving from $0.30 to $0.60 reflects a 2x increase, the same rate of increase that XRP would record for a jump from $10 to $20. 

In a nutshell, if XRP can rally 10x from $0.1 to $1, then it has the potential to rally another 10x from $1 to $10. EGRAG expressed a strong belief that individuals acquiring XRP below $1 today may ascend to legendary status in the future.

Meanwhile, XRP has held above the $0.62 price territory despite the recent price drop triggered by the market-wide slump. Volume has also recorded a drop, down 25% over the past 24 hours to $1,160,630,165 as of press time. Moreover, Open Interest is down 1.86% to $726 million.