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Analyst Highlights 2 Scenarios Sending XRP Price To $9.6 Or $33
A recent analysis by Egrag Crypto suggests two potential scenarios for XRP price movements, based on historical patterns and support levels.
XRP Price Retest Indicates Possible Rise to $9.6
- XRP's interaction with the 21 Exponential Moving Average (EMA) played a key role in past gains.
- The SEC lawsuit previously caused XRP to fall below the 21 EMA, disrupting its bullish trend.
- After reclaiming the 21 EMA, XRP experienced a rebound, increasing by approximately 414%.
- The analyst predicts a potential rally to $9.60 if similar conditions are met.
Potential Surge to $33
- The second scenario mirrors XRP's 2017 rally, where it surged by 1,610% after bouncing off the 21 EMA.
- If XRP repeats this pattern, it could rise to $33.
- This surge would mark one of XRP's strongest performances, supported by the conclusion of the SEC lawsuit and recent EMA retests.
XRP is currently trading at $2.87, having declined by about 5% recently. It briefly reclaimed the $3 level but is now consolidating below it.