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XRP Price Prediction: Crypto Analyst Expects 200% Jump As Critical Support Forms
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XRP Price Prediction: Crypto Analyst Expects 200% Jump As Critical Support Forms

Scott Matherson
Scott Matherson
1 year ago
3 mins read
XRP Price

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Crypto analyst Egrag has provided insights into the current market conditions of the XRP price from a technical analysis perspective. He highlighted a critical support level for the crypto token and also reasserted his bullish prediction for XRP when the bull run returns. 

XRP Could Rise To $2 From This Support Level

In a post shared on his X (formerly Twitter) platform, Egrag mentioned that XRP could rise to as high as $2 once it is able to hit the support level of $1.2. He shared an accompanying chart to drive home his point. From the chart, he noted that it was “intriguing” that XRP hasn’t managed to close a monthly candle above $1.2 yet.

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XRP Price prediction

Source: X

He further mentioned that so far, XRP has body candles, but a full-body candle hasn’t materialized. Despite that, the crypto analyst is still bullish on the future trajectory of XRP. He confidently said that XRP will hit $2 once XRP “finally achieves a monthly candle close with a full body above $1.2.”

Considering that many seem to be losing hope in XRP’s potential, Egrag suggested that this move will provide renewed hope as he is convinced that it will trigger a “massive FOMO.” Meanwhile, those who have continued to remain steadfast will be hoping that Egrag’s prediction comes true as they believe that XRP is long overdue for a significant rally. 

Egrag had previously mentioned that XRP hitting $27 is a “plausible target,” considering that XRP saw a parabolic move back in 2017, with the token seeing a 61,000% gain in 280 days. He once again reasserted his bullish stance as he stated that he still has his sight set on the $27 mark.  

XRP price chart from Tradingview.com

Token price fluctuates | Source: XRPUSD on Tradingview.com

XRP Price Retesting Trendline

Crypto analyst JD also recently shared an outlook of XRP on the charts. He mentioned in an X post that XRP broke out of the multi-year trendline on the Non-Logarithmic Scale. Following that, XRP is currently retesting the trendline. 

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As to what the future holds for XRP, he noted that a bounce-off on the weekly close is bullish, as that could signify a breakout or retest. However, a break below the trendline could be a false breakout. 

XRP price

Source: X

Meanwhile, another analyst, Crytoes, recently noted that the bears are still in control when it comes to the XRP market. He made this statement following XRP’s daily close below the 21MA (Moving Average).

At the time of writing, XRP is trading at around $0.62, down in the last 24 hours, according to data from CoinMarketCap. 

Featured image from Watcher Guru, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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