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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

XRP Could Start An Explosive Move To $33 Within 28 Days, Says Analyst

Jake Simmons
Jake Simmons
2 months ago
3 mins read
XRP price news

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Este artículo también está disponible en español.

Crypto analyst EGRAG CRYPTO (@egragcrypto) has released a chart update that could stir excitement among XRP holders. In his latest post on X, the analyst references historical price behavior, a potential channel formation, and precise technical indicators to suggest that XRP may be on the verge of a swift move toward the $27-$33 price range. The timeframe for this potential surge, according to his analysis, could be as short as 28 days if conditions mirror XRP’s 2017 bull run.

XRP Price To Hit $33?

Egrag opens his post by acknowledging the risk and difficulty of making time-based forecasts. “Sometimes, I throw myself under the bus with time predictions, but honestly, it’s worth sharing with the community! Even though I know it might backfire, I still give it a shot,” he writes. He also reiterates his broader philosophy: “Now, let me be clear—I never try to time the market because it’s nearly impossible. Instead, I follow the golden rule: ‘Time in the market is more important than timing the market!’” This balance between caution and optimism underscores the delicate nature of technical analyses in unpredictable cryptocurrency markets.

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The centerpiece of Egrag’s analysis is a potential weekly channel that he believes strongly resembles the price structure XRP exhibited in 2017. He points out that, during that period, the cycle leading from the channel’s inception to the final breakout lasted approximately 175 days. Within that timespan, the token recorded a rise of about 2,500% from the lower boundary of the channel. That surge culminated in a cycle “blow-off top,” a term used by traders to describe a rapid price climb followed by an even quicker reversal.

XRP price analysis
XRP price analysis | Source: X @egragcrypto

According to Egrag, these chart features appear to be resurfacing now, with XRP showing signs of maintaining support above the 21-week Exponential Moving Average (EMA). “We’re seeing similar XRP price action today, with the 21 EMA closing above and only a minor wick,” he notes, suggesting that the token’s price is finding strength near a well-watched moving average. Such support, if sustained, can be an early indicator that bullish momentum is building.

One of the most eye-catching points in Egrag’s chart is his projection that XRP could climb toward the Fib 1.618 extension level, where he places a tentative target between $27 and $33. He explains that, if 2017’s channel pattern truly echoes today’s structure, XRP may replicate a similar percentage gain and time duration before hitting that upper range. “If we apply this same pattern to the current market, XRP could surge to the Fib 1.618 level, targeting $27-$33!” he writes. He further suggests that this parabolic move “could happen within just 28 days,” based on his historical observations.

Before reaching this high, XRP could first target the Fib 1.272 level at $8.38, followed by the Fib 1.414 level at $13.67. These are historically relevant Fibonacci extension points that traders often monitor as price advances in an uptrend.

Related Reading

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XRP Price Bubble Burst? This Pattern Suggests Imminent Drop To $1.1

2 months ago

In the immediate short term, XRP is currently positioned at the 0.888 Fibonacci retracement level ($2.23), with additional support at the 0.786 level ($1.57) and 0.702 level ($1.78). These levels suggest that XRP is consolidating within a structured Fibonacci-based pattern before an anticipated breakout.

This 28-day forecast is arguably the most striking part of his analysis, reflecting a break from his usual reluctance to pin down short-term timelines. Egrag concedes that timing market moves is notoriously challenging but remains confident that reviewing past cycles can still offer valuable insights. “Even though I know it might backfire, I still give it a shot,” he remarks, acknowledging the inherent volatility and unpredictability of crypto assets.

At press time, XRP traded at $2.32.

XRP price
XRP price, 1-day chart | Source: XRPUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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