Crypto analyst Egrag Crypto predicts that XRP price could soar to $77 even with the current market downfall. Such analysis, according to him, has historical precedents supporting this bullish outlook.
He believes the target is achievable by 2026 or even earlier. However, the broader crypto market remains bearish as Bitcoin and other cryptocurrencies decline.
Source: X
XRP Price Technicals Signal Possible Breakout
Egrag Crypto pointed out that XRP’s Relative Strength Index (RSI) is forming a double-top pattern. This pattern often signals a potential price breakout.
The analyst noted that XRP must stay above the 65 RSI level to maintain bullish momentum. If XRP drops below this level, it may touch the 14 Simple Moving Average (SMA). Historical data shows that a price surge often follows such movements.
Furthermore, he analyzed the Bollinger Bands on XRP’s RSI, which currently display a wide range. According to him, XRP price usually reaches the top of this band or even exceeds it.
The analyst believes market participants are not bullish enough based on past cycles. He expects XRP price could follow its historical trend and move higher.
Market Crash Puts XRP Price Under Selling Pressure
The ongoing crypto market crash has affected XRP’s movement. Bitcoin, Ethereum, and Solana have all seen significant declines.
XRP price has also dropped in market rankings, now standing as the fourth-largest cryptocurrency. Despite these losses, XRP price still shows strength in technical indicators.
Egrag Crypto predicts that XRP could see a price bounce from its current levels. He observed that XRP price has printed three green candles after seven consecutive red candles.
Source: TradingView
This price action suggests that a potential reversal may occur soon. He thinks that XRP needs to establish strong support to trigger a rally.
XRP Price Must Hold Support Levels to Recover
The analyst identified $2.07 as a key support level for XRP price. Holding this level could confirm a double-bottom pattern, which often signals a price surge.
He also mentioned $2, $1.855, and $1.73 as additional support zones. If price holds these levels, it may regain bullish momentum.
Interestingly, such a bounce could take XRP back to its local high levels again. The price movement will most probably depend on the stability of Bitcoin in the future days. If Bitcoin price continues falling, XRP has little chance of reaching high trading volumes.
XRP Faces Mixed Predictions from Analysts
Consequently, Crypto analyst Ali Martinez gave a different outlook on XRP price trajectory. According to his analysis XRP shows signs of breaking through an ascending parallel channel pattern. He predicted XRP could fall at least one more step before beginning its recovery path.
According to Martinez, price might first reach the $1.65 level before showing signs of recovery.
The anticipated price recovery might face delays when this scenario unfolds. His prediction contrasts with Egrag Crypto’s bullish forecast.
Source: Ali Charts
At the time of writing, XRP was trading at $2.24, up 2.25% in the last 24 hours. The market capitalization currently lies at $130.35 Billion and trading volume fell by 50.9% to $60.69 Billion.
