Crypto analyst ChartNerd has predicted that the XRP price could reach double digits in this market cycle. The analyst earlier alluded to the Fibonacci levels in previous cycles as the reason why the altcoin can record such a parabolic surge in this market cycle.
XRP Price Eyes Rally To $27 In This Cycle
In an X post, ChartNerd declared that an XRP price rally to between $8 and $27 is still loading. He made this statement while alluding to a previous analysis, in which he noted that the altcoin met both of its 1.272 and 1.1618 Fibonacci levels. The analyst then remarked that this cycle’s Fib 1.272 and 1.618 levels are $8.40 and $27.
Crypto analyst Egrag Crypto has also predicted that the XRP price can rally to as high as $27 in this market cycle. The analyst had previously highlighted several reasons why the altcoin can reach this target, including alluding to the 2017 market cycle when XRP recorded a legendary gain of around 63,000%. The analyst is confident that the altcoin can replicate this run.
Related Reading: XRP Price Enters Accumulation Phase – Why $2.08 Must Hold Or Risk A Crash
Meanwhile, in one of his most recent analyses, Egrag Crypto stated that the signal points to a target of $10, $18, and $27 for the XRP price. His accompanying chart showed that the altcoin can reach this target in the second half of this year. Meanwhile, the analyst also recently highlighted a bullish candle formation, which showed that XRP can at least reach $22.
Crypto analyst Dark Defender predicted that the XRP price is about to witness an upcoming surge to $23. He noted that the altcoin is forming another Wave Structure in the weekly timeframe, creating the potential rally to this target. The analyst added that this new wave structure aligns with the previous targets and historical pattern in November 2024.
What To Expect In The Short Term
In an X post, Dark Defender provided insights into what to expect from the XRP price action in the short term. The analyst stated that, on the weekly chart, XRP is moving towards the primary resistance level at around $2.40. The support level to watch on this move is $2.2222, while $5.85 is the target as the altcoin eyes a rally to the upside.
Commenting on the short-term move for the XRP price, Egrag Crypto stated that XRP has to close above $2.30, $2.35, $2.36, $2.45, and $2.65 to have a bullish breakout. The analyst claimed that $2.65 is the ‘Go-Go’ signal as the altcoin eyes a rally to a new all-time high (ATH).
At the time of writing, the XRP price is trading at around $2.12, down almost 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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