Bullish Candle Formation Indicates XRP Price May Reach $22

Crypto analyst Egrag Crypto identified a bullish candle formation suggesting that the price of XRP could rise to $22. He predicts a potential market cap of $1.5 trillion for the altcoin.

XRP Price Rally Potential

Candle 13 on the yearly chart may indicate a breakout, with targets of $13 to $22.
Candle 9 analysis suggests a possible target around $17.
Candle 12 shows a strong Bullish Engulfing pattern, indicating bullish momentum.
The body of Candle 13 is above $1.85 with a wick extending to approximately $3.40.
A close below $1.85 may end the current bull run; a close above $3.40 could lead to double-digit prices.
December 31 is highlighted as a key date for observing XRP's performance and candle formations.

XRP at a Critical Level

CasiTrades noted XRP has returned to the critical $2.25 range, which has acted as both support and resistance.
A backtest of this level is underway, requiring daily closes above $2.25 for confirmation of a bullish pivot.
If support at $2.25 fails, the next major support level is at $1.90.

Currently, XRP is trading at approximately $2.21, reflecting a nearly 3% decrease in the last 24 hours.