Analyst Says XRP Could Hit $9 or $24 This Cycle If This Bullish History Repeats
Main Idea
Analyst EGRAG Crypto predicts XRP could reach $9 or $24 in the current market cycle based on historical bullish crossovers of the 21-week EMA and 55-week SMA, supported by Ripple's expansion in global finance and technical indicators.
Key Points
1. A bullish crossover between the 21-week EMA and 55-week SMA has historically signaled significant XRP rallies, such as a 40,000% surge in 2017 and a 750% rally in 2020.
2. If the current cycle replicates 10% of the 2017 rally, XRP could rise 4,000% to $24; if it mirrors double the 2020 cycle, it could gain 1,500% to $9.
3. Ripple's expansion into cross-border payments and stablecoins, including the launch of RLUSD, strengthens XRP's long-term utility and liquidity on the XRP Ledger.
4. The Federal Reserve Bank of Atlanta's mention of XRP in a Web3 report highlights its growing recognition as a bridge currency in decentralized finance.
5. XRP is currently trading above $1.70, with analysts noting strong resistance near $3; breaking this level could trigger further bullish momentum.
Description
XRP is once again in the spotlight as key technical signals suggest the possibility of a major breakout. According to Ripple Van Winkle, citing analysis from EGRAG Crypto, the latest bullish crossover between the 21-week Exponential Moving Average (EMA) and the 55-week Simple Moving Average (SMA) could drive XRP to $9 or even $24, if history is any guide. Historical Patterns Show Explosive Potential Looking at past market cycles, the EMA/SMA crossover has proven to be a reliable signal for XRP’s...
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