Crypto analyst Egrag Crypto predicts a possible rise in XRP price to $77, even amid the current market decline. The forecast is based on historical data and technical indicators.
XRP Price Technical Analysis
Egrag Crypto pointed out that XRP's Relative Strength Index (RSI) is forming a double-top pattern, often signaling a potential breakout. He believes XRP must stay above the 65 RSI level to maintain bullish momentum. If it drops below, the price may touch the 14 Simple Moving Average (SMA). Historical data shows that such movements often lead to a price surge.
Impact of Market Crash on XRP
The ongoing crypto market crash has affected XRP's movement. Bitcoin, Ethereum, and Solana have all seen significant declines. XRP price has also dropped in market rankings, now standing as the fourth-largest cryptocurrency. Despite this, technical indicators still show strength for XRP.
Need to Hold Support Levels for XRP
The analyst identified $2.07 as a key support level for XRP price. Holding this level could confirm a double-bottom pattern, often indicating a price surge.
XRP faces mixed predictions from analysts. Egrag Crypto is optimistic about the price rise, while other analysts are more cautious. Market conditions and Bitcoin's stability will be crucial.
