The XRP price is up around 2.5% this week and is now trading above the $0.54 area. Whatâs more interesting for Rippleâs token is that it still has a huge community, with many elite crypto analysts making viral XRP price forecasts.
One of them is EGRAG CRYPTO, who posted a new XRP price prediction today via his X (formerly Twitter) account.
Breaking Down EGRAGâs Bold XRP Analysis
The analystâs detailed chart shows two distinct macro consolidation zones, labeled as âArea Aâ and âArea B.â According to EGRAG, XRP previously consolidated in Area A before experiencing a significant drop into what he calls âDrop Zone A.â Now, as the token trades in Area B, the analyst suggests another major XRP price movement could be on the horizon.
EGRAG identifies $2 as a crucial trigger point for XRPâs potential upward movement. His analysis suggests that if XRP breaks above this level, it could catalyze a surge toward $15, which he considers a minimum target. Even more intriguingly, the analyst predicts potential further consolidation between $15 and $115, in what he terms âArea B*.â
In his analysis, EGRAG draws attention to volatility comparisons. The projected move from $15 to $115 would represent a volatility of 666.67%, notably lower than a previous surge from $0.15 to $2, which saw 1233.33% volatility. This comparison suggests that while significant price appreciation might occur, it could happen with relatively less market turbulence than previous rallies.
The analystâs monthly chart, spanning back to 2014, maps out these consolidation zones and potential âdrop zones,â using historical data to support his macro analysis. These zones, marked by dark blue horizontal bands, represent areas where XRP has shown significant price activity in the past.
Historical drops and bounces are marked, suggesting that the previous consolidation in Area A led to a significant downward move to Area B. The same logic applies to a future upward move toward $15 and potentially $115.
Read also: Solana (SOL) Price Explosion Imminent? Key Levels Hint at a Significant Upswing
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