- Analyst EGRAG predicts a major breakout for XRP with potential price targets of $7.5, $13, and $27.
- XRP faces critical resistance in “Channel B,” and a breakout could trigger a significant rally.
- Previous successful predictions by EGRAG suggest a promising upward movement despite current price corrections.
The XRP price showed a weak performance lately, dropping by 2% over the last 24 hours to trade around $2.30.
On a weekly basis, XRP saw a modest gain of just 1.59%. Still, analysts anticipate a significant move ahead.
Crucial Resistance Level for XRP’s Next Big Move
XRP’s price movement remains stuck within a long-term technical range. Crypto analyst EGRAG, however, sees potential for a breakout soon.
EGRAG’s latest analysis highlights a key resistance area he calls “Channel B.” This channel blocked XRP from closing a monthly candle above this critical level for some time. If XRP can successfully move past this resistance, a substantial rally could follow, potentially reaching highs around $27.
Related: XRP Bull Run Ignition? Analyst Predicts Major Price Surge, Cites Key XRP Patterns
Technical Foundation Behind XRP’s Ambitious Targets
To give weight to his projections, EGRAG referenced his earlier analysis, in which he identified significant resistance levels at $0.6450, $0.85, and $1.10 that XRP needed to overcome. At the time, XRP was trading at around $0.50.
EGRAG also pointed to $0.85 as the midpoint of a broader range. A strong monthly close above this point could confirm XRP’s path toward higher Fibonacci levels.
On the downside, EGRAG pinpointed major support at $0.48, $0.38, and $0.28, highlighting these as prime accumulation areas before potential upward moves.
Remarkably, XRP successfully broke through these key levels, swiftly surpassing $1 and entering the $2 range by late 2024. The token continued to climb, reaching as high as $3 by January 2025.
Related: XRP Weekend Price Alert: Will $3 Resistance Break This Time?
Sentiment Cooling as XRP Holds Around $2.30
Following multiple corrections, XRP is currently trading near $2.30, with investor optimism fading. Despite weaker sentiment, EGRAG remains confident in another substantial upward movement based on historical patterns.
“Many moons (months) ago, when everyone was doubting us, the XRP Family held strong in our conviction in technical analysis,” he wrote.
Three XRP Price Targets Investors Should Monitor
EGRAG laid out three price targets for XRP investors to monitor closely. Based on Fibonacci analysis, XRP’s next target could hit $7.50 (Fib 1.236). Continued bullish momentum could then push prices to around $13 (Fib 1.414), and ultimately $27 (Fib 1.618).
Essentially, this analysis suggests a promising outlook for XRP even with current weak price action and discouraging price performance.
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