XRP Price Targets Set Between $17 and $55 Amid Macro Channel Breakout

Analyst Egrag Crypto predicts a potential macro channel breakout for XRP, suggesting a price target of $55. Current observations indicate XRP is in candle number 5, hinting at the possibility of a significant monthly rally. Key points include:

Egrag's focus on a measured move indicating a target of $27, likely to be surpassed.
Potential historical pattern suggests a target of $17 could also be achievable.
Comparisons made to the 2017 bull run, with predictions of double digits by summer and possibly reaching $120 in future cycles.

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Another analyst, XRPunkie, identified a forming bull pennant on the weekly chart, expecting a breakout after a final pullback between $1.80 and $2. This pattern has a technical target of $13-$14 but warns of potential pullbacks along the way. Ali Martinez indicates a short-term target of $2.70-$2.90 as XRP appears to break out of an inverse head and shoulders pattern.

Currently, XRP trades around $2.2, down nearly 2% over the last 24 hours.

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