Prominent crypto analyst Egrag Crypto has released a detailed forecast for XRP, highlighting a potential major price surge despite recent market volatility. He emphasizes that XRP is in a powerful accumulation phase, with critical support holding at $1.94, which he believes is essential for maintaining the bullish structure.
Egrag identifies two primary upside targets: Micro Wick 1 at $10 and Wick 2 at $50. The $10 projection is based on measured moves from current market patterns, while the $50 target draws from historical symmetry, referencing a past wick on Gemini's chart. He applies Elliott Wave theory, suggesting that a breakout could lead to an intermediate range of $14 to $25 before potentially reaching the higher $50 mark.
The analyst urges traders to avoid emotional reactions during this accumulation period, noting that the XRP Ledger's achievement of its 100 millionth ledger milestone reinforces the network's strength. Egrag remains unfazed by recent selloffs, asserting that higher-timeframe charts are fully bullish and that this phase represents one of the strongest accumulation opportunities in XRP's history.
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