Amid the prevailing sideways price action of XRP, some crypto analysts believe the coin could rally as high as $10 to $37 this cycle.
In a Tuesday X post, popular market analyst EGRAG shared his bullish sentiments on XRP. Citing a historical pattern that played out in 2017 and 2021, he argued that XRP is just testing the faith of bulls.
Specifically, in an accompanying chart he shared, the crypto asset has been trading in a descending triangle over the past few months, with its price currently at the base of the triangle. While some traders see weakness on the high time frame, he envisages a massive upward momentum.
XRP Setting for 306% to 1,404% Surge
In particular, EGRAG predicts an increase of about 306% to 1,404% from XRP’s current price of $2.46. In other words, the analyst expects the crypto asset to reach $10 to $37 this cycle.
He went on to add that XRP typically stages a dramatic comeback within a 4 to 6 week window, and history supports this with evidence. “XRP will melt faces,” EGRAG said.
Interestingly, another widely followed analyst, ChartNerdTA, re-echoed the same view, reposting Egrag’s analysis. “XRP is busy testing bulls’ faith,” he wrote.
XRP Historical Price Action
Notably, Egrag based his recent XRP projections on a so-called “white/green/blue” candle style that played out in 2017 and 2021.
In 2017, XRP jumped from $0.097 to reach its all-time high of $3.84 in 2018 within three months. In a similar chart setup in 2021, XRP rose from below $0.45 to surpass $1.90 in two monthly candlesticks. With the XRP price currently at the base of this historical chart setup, EGRAG expects a similar play out.
Sharing a close bullish view, an XRP community pundit recently identified factors that could boost XRP’s price toward $15–$20 before the market structure bill passes in the U.S.
Likewise, former CoinRoutes chairman Dave Weisberger also believes XRP could see huge gains this cycle, calling the $1,000 circulating target absurd.
At press time, the popular crypto asset is hovering above $2.46, down 4.4% in the past 24 hours.
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.
