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Analyst Predicts XRP Price Could Reach $27 Amid Bullish Fundamentals
Crypto analyst Egrag Crypto predicts that the XRP price could reach $27, highlighting a technical formation for potential growth.
Key Predictions
- Linear Regression targets for XRP: $3.4, $10, and $27.
- $3.4 is seen as mean reversion; a close above this indicates macro bullish territory.
- $10 represents upper midline, where bull expansion accelerates.
- $27 is identified as the top of the channel with multiple long-term confluences.
Several bullish fundamentals support these predictions:
- Ripple's conditional approval for a national trust bank charter may boost adoption.
- Expansion to Solana with Hex Trust’s wrapped XRP token for DeFi.
- Swiss bank AMINA Bank integration of Ripple payments utilizing XRP.
Technical Levels
- Macro supports: $2.03 and $1.64.
- Macro resistance: $2.41; breaking this would indicate a bullish scenario.
- If $2.03 support breaks, a decline towards $1.64 is possible.
The current XRP price is approximately $2.01, according to CoinMarketCap.