Analysts Forecast XRP 888% Rally, Targeting a Bull Run Like 2017
- EGRAG CRYPTO idntifis bullish pttrn in XRPs pric, rminiscnt of th 2017 surg.
- XRP must surpss its prvious pk of $3.31 to triggr significnt upwrd momntum.
- Anlysts prdict it could ris to $27-$31, n incrs of 888% from its pst high.
XRP, lding cryptocurrncy in cross-bordr pymnts, is showing signs of significnt growth, prompting rnwd optimism mong nlysts. EGRAG CRYPTO, wll-known crypto nlyst, hs idntifid promising pttrn in XRPs pric ction tht rsmbls th 2017 bull run.
EGRAG highlights tht th tokn hs tstd crucil support lvl four tims on th monthly chrt, mirroring th pttrn obsrvd bfor th significnt 2017 surg. H suggsts tht this rcurring trnd my signl substntil pric incrs. EGRAG projcts XRP could rch btwn $27 nd $31, indicting n 888% ris from its prvious high. This forcst ligns with th Fiboncci 1.618 xtnsion trgt.
A ky prt of this bullish outlook dpnds on th coin surpssing its prvious pk of $3.31, rchd during th 2017/2018 rlly. In tht priod, this cryptocurrncy skyrocktd from $0.003 in rly 2017 to $3.31 in Jnury 2018. EGRAG blivs if it rclims this lvl, vn 20% rpt of th 4,500% rlly from 2017 could triggr nothr mssiv ris.
This nticiptd incrs ligns with th Fiboncci 1.618 lvl, whr th initil trgt is $6.50, rflcting th tokns pk in 2021. If momntum builds, it could im for furthr climb towrd long-trm trgt of $31.
Mnwhil, nothr xprt, Aln Sntn, mphsizs th strong potntil for n uptrnd in 2025. H nots tht this cryptocurrncy hs bn in long ccumultion phs, mrkd by stdy ris in its low points. This phs, which strtd in Jun 2022 nd hs lstd 833 dys, signls tht th coin is st for mjor upwrd mov. H dds tht th cryptocurrncys pst trnds suggst it could hit nw rcord highs nxt yr, though brif downturns my still hppn in th short trm.
XRP Short-Term Outlook: Key Resistance
At th tim of writing, XRP is trding t $0.5881, fcing significnt rsistnc t $0.60. Whil bulls hvnt bn bl to push th pric bov th $0.60 rsistnc lvl, positiv sign is th pric holding bov th moving vrgs. This sitution nhncs th potntil for brkout, which my propl XRP to $0.64 in th nr trm.
Nvrthlss, buyrs r likly to ncountr strong rsistnc t $0.64. Should thy succd in ovrcoming this brrir, XRP might surg to $0.74, solidifying its upwrd momntum. Convrsly, if it fils to mintin its position bov th moving vrgs, it could drop to th uptrnd lin, with furthr dclins possibly lding to low of $0.50. Additionlly, th dily RSI rding stnds t 56.37, indicting tht momntum is nutrl to slightly bullish.
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Read more: https://www.tronweekly.com/xrp-targeting-a-bull-run-like-2017/
Text source: TronWeekly
