XRP continues to attract bullish sentiment as seasoned analyst EGRAG argues for an average price target of $20 this cycle.
Drawing on data from previous market moves and symmetrical triangle analysis, EGRAG believes XRP’s explosive upside may just be beginning.
For context, XRP is up over 70% in the past four weeks and is currently trading around $3.45. Amid this encouraging price action, discussions about XRP’s potential peak this season have dominated the community.
Peak XRP Price Range Based on Historical Cycles
According to EGRAG’s analysis, XRP’s performance in previous bull runs presents clues about what might be possible this time around.
For one, in the 2017 bull cycle, XRP skyrocketed by over 2,600% during the final phase of the bull run. This would equate to a price target of approximately $33 in a similar breakout this season.
However, in the 2021 cycle, the coin saw a more conservative 500% run during the second leg of the rally. This historical context supports a more modest peak of $7.70 based on structural price behavior.
Averaging the Moves Yields a $20 Projection
Rather than focusing on just one scenario, EGRAG suggests averaging the two historical targets. According to his analysis, the midpoint between $33 and $7.70 supports a projected average price of $20 for XRP.
The analyst emphasized that this target is not exaggerated, but falls well within the logical bounds of past market behavior, especially in light of the symmetrical triangle breakout.
The breakout is already taking shape, with XRP currently trading above $3.40 following a sharp upward move. As the pattern unfolds, momentum could push the asset toward the projected range.
EGRAG also noted that these targets don’t yet include the full “measured move,” which could result in even higher valuations for XRP over time.
What Other Analysts Think About XRP’s Peak
While EGRAG bases his XRP price projections on technical patterns and historical cycles, other analysts consider different factors.
For instance, Bitcoin analyst Dennis Liu bases his projections on fundamental drivers such as regulatory clarity, institutional interest, and the potential approval of a spot ETF. He suggests XRP could realistically reach $10 in the current market cycle.
Other market commentators, such as ‘Ripple Van Winkle’ and trader ProfitMana, base their peak price targets on capital rotation dynamics and broader macro market shifts. Specifically, they forecast XRP could reach between $14 and $21, especially if Bitcoin hits or exceeds $140,000.
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.
