XRP Drop Zone: Expert Sees a 1,500% “Crash” That Could Push XRP to $27

Market analyst EGRAG is expecting a massive XRP price “crash,” citing its historical performance, but there’s a twist.

XRP has spent the last four months hovering near the lower end of the $2 range, with little sign of momentum in either direction. This lack of movement has left many investors feeling uneasy, unsure whether the token is aiming for a breakout or bracing for another lull. 

However, while short-term traders focus on daily fluctuations, prominent market analyst EGRAG Crypto looks at the bigger picture, ignoring what he calls “short-term noise.”

EGRAG recently shared his latest thoughts on XRP’s price action, pointing to the monthly chart as the clearest way to cut through the day-to-day noise. Interestingly, the analyst leveraged a unique approach in the form of a reverse chart. 

XRP’s Historical Performance 

For context, on this chart, what appears to be a price drop is actually a rise, and when the analyst mentions XRP “falling” below the 21 Exponential Moving Average (EMA), he is actually describing a push above the pivotal technical level.

Citing XRP’s historical performance, EGRAG broke its price behavior into three major cycles, each featuring an initial price spike, a retracement, and then a subsequent upsurge.

Specifically, in Cycle 1 from 2017 to 2018, XRP crossed above the 21 EMA and surged roughly 5,500%. After that big move, it pulled back to touch the EMA before climbing again, this time by 2,500%. While he describes these moves as “drops” due to his reverse chart, they were actually major upward moves in price.

Meanwhile, Cycle 2, which occurred from 2020 to 2021, followed a similar pattern but with smaller gains. XRP broke above the 21 EMA and rallied 150%, pulled back again, and then climbed another 500%. EGRAG sees these repeated phases as a pattern that XRP could follow once more in the current cycle.

XRP Could Hit $27 in the Current Cycle

Now in Cycle 3, XRP has already crossed above the 21 EMA again. So far, EGRAG estimates the ongoing move represents a 430% rise. Right now, he believes XRP is in the middle of a retracement, which should bring the price back in line with the 21 EMA. If the price stays above $2, he expects the EMA will slope downward to meet XRP soon.

According to him, what happens next is extremely important. Based on past trends, XRP could be in for another big leg up. If the current cycle plays out like the first, XRP might reach as high as $46. If it follows the second cycle instead, a move to $12 is more likely. 

Taking the average of these two scenarios, EGRAG lands on a projected gain of 1,500%. That would put XRP at a target of around $30. However, he personally sees $27 as a more realistic level. 

The market analyst has persistently projected this $27 price. Most recently, he suggested XRP could hit the $27 mark in 60 days, citing its 2017 run. Currently, XRP changes hands at $2.29, down 2% in the past 24 hours. To reach the $27 price from this level, XRP must rise 1,079%.