Analyst Sets XRP Short and Long-Term Targets at $4.3 to $67, Reveals Level Necessary for Breakout

Crypto analyst EGRAG sets his short and long-term XRP targets, highlighting the level the asset must breach to secure an uptrend.

Notably, his analysis comes as XRP has been consolidating between $2.4 and $2.7 over the past week, facing market uncertainty. In his latest report, the analyst outlined potential short-term and long-term price movements, citing major resistance levels and technical formations.

XRP Short-Term Targets

According to EGRAG, in the short term, XRP is showing strong bullish momentum. The market analyst suggested that the asset is approaching a major resistance zone near $3.00. 

Notably, this level has historical significance, as it has acted as resistance during past price surges. The last time XRP attempted to retest this region was on Valentine’s Day, Feb. 14, leading to a roadblock at $2.83. Since then, XRP has observed a pullback and a consolidation phase.

EGRAG noted that A breakout above this could confirm further upward movement. The analyst noted that the next Fibonacci extension targets suggest potential price points at $4.3 and $6.4, new all-time highs. According to him, these price levels mark XRP’s short-term targets, representing a 66% to 147% rise from current levels.

XRP Long-Term Target

Meanwhile, the long-term outlook appears even more optimistic, with projections to levels previously dismissed by other market commentators. Notably, for the long-term, EGRAG Crypto identified a Parabolic ARC formation that follows three phases. 

He stressed that if this pattern continues, XRP could reach much higher levels. His price projections indicate that if momentum remains strong, the asset could rise to a range between $33 and $60 in the future. 

Specifically, he believes the long-term target of $33 to $60 could materialize based on the expansive channel projection. Notably, a confirmed breakout from the Fibonacci 1.618 level, positioned at $6.4 (the higher short-term targets) would validate further upside potential.

The next price milestones include $8, $13, $27, and $67, which align with the second Fibonacci extension. These levels suggest a powerful bullish scenario where increased volume and strong momentum drive XRP to unprecedented highs.

Bullish and Bearish Cases

EGRAG then called attention to the bullish and bearish cases for XRP. For the bullish case, he noted that a push above the pivotal level at $3 would signal bullish confirmation. However, if it fails to break the resistance at $3, the $2 mark still serves as major support. Overall, long-term targets are bullish upon confirmation.

However, potential risks remain. If XRP faces rejection at $3.00, a retracement to the $1.90-$2.00 range is possible. This zone has acted as strong support in previous price movements, but a further decline below $1.90 could introduce a bearish phase.

This more bearish phase may bring prices down to the $0.90-$1.00 level. Such a drop would indicate a severe shift in market sentiment, potentially triggered by external factors. Despite these risks, the analyst remains optimistic in the long-term. Currently, XRP trades for $2.59, down 3% over the past 24 hours.