Technical analyst EGRAG CRYPTO has outlined a bullish case for XRP, suggesting the cryptocurrency could be poised for a significant price surge, with potential targets reaching as high as $27. The analysis hinges on XRP's recent price action holding a critical technical confluence zone around the $1.60–$1.61 level, which aligns with the 33-period exponential moving average (EMA) and a central trend line on the monthly chart.
XRP recently demonstrated resilience by dipping to $1.50 before closing above the crucial $1.60 mark and opening February around $1.66. This movement is interpreted by the analyst as an initial "liquidity grab," a pattern that has preceded major rallies in past cycles. The current market structure, with price hovering near the 33 EMA rather than breaking decisively lower, is seen as a setup for future expansion.
The price projections are based on historical performance. EGRAG CRYPTO cites the 2021 cycle, where XRP gained approximately 340% after similar conditions. Applying that percentage increase from current levels points to a target near $7. A more optimistic scenario references the 2017 bull run, where XRP skyrocketed by roughly 1,600%. A repeat of that magnitude could propel the price toward $27.
The analyst presents two potential paths forward: one involves a relief bounce followed by a second liquidity sweep before a larger rally, while the other suggests direct price expansion without another deep retracement. Both scenarios depend on XRP maintaining its position above the key $1.60 support and the 33 EMA.
However, a major risk is identified: a monthly close below $1.60 and the 33 EMA would signal structural weakness and potentially invalidate the current bullish cycle framework, possibly triggering panic selling. As of the latest data, XRP was trading near $1.59 with a 24-hour gain of 1.07% on a trading volume of approximately $3.9 billion.
