Predicted Price Surge for XRP to Reach $7.5: An Ambitious Projection

A crypto analyst has made a bold prediction regarding a significant price surge for XRP, targeting a milestone of $7.5 despite its current trading below $1. This ambitious projection, if realized, would set a new all-time high for XRP and end years of downward trends.

XRP Heading Towards $7.5 Target

On Monday (10/6/2024), a crypto analyst known as Egrag Crypto shared his bullish projection on XRP's price at X. According to the analyst, XRP is expected to reach a critical target level of $7.5 before the beginning of 2025. He believes that XRP's price has the potential to break the White Triangle pattern and achieve a measured move to $1.5, initiating a strong yet brief upward momentum.

Bitcoinist reported that Egrag Crypto shared a price movement chart of XRP from 2020 to 2026, depicting a unique triangle pattern emphasizing the critical Fibonacci 1.618 zone ranging between $6.5 and $7.5. The analyst highlights that this Fibonacci 1.618 zone serves as a key resistance area, making it a prime opportunity for investors to capitalize on.

The Significance of Fibonacci Levels

Fibonacci levels play a crucial role in technical analysis, often indicating potential reversal points in market trends. Egrag Crypto's emphasis on the 1.618 zone underscores the importance of this range in predicting the potential price surge in this crypto.

Given the current price of XRP, achieving a new all-time high may seem distant for many investors consistently experiencing long-term price stagnation of this crypto asset. However, Egrag Crypto's bullish projection offers hope to XRP supporters anticipating a price increase.

Encouraging XRP Investors to Exercise Patience

Egrag Crypto urges the XRP community to remain calm and patient, emphasizing that the price surge may follow the rise of other major cryptos in the market. "Believe me, all we need is another coin to go up before XRP. Rotational gains will flow 100 percent to XRP because it is the DARK HORSE where all my bets are," stated the analyst.

Looking further ahead, Egrag Crypto also projects a double-digit increase for XRP. He reveals that if XRP manages to close each week above the Fibonacci 1.618 level, this crypto could see a new price target at the Fibonacci 2.414 and 2.618 levels. These levels indicate the potential bullish surge between $25 to $45.

Despite Egrag Crypto's bullish view on XRP's price during this cycle, the crypto's price continues to decline. XRP shows disappointing performance, recording a 2.15% decrease in the last 24 hours. The crypto has consolidated around the $0.5 price range for years. At one point this year, it even peaked at $0.6, witnessing gains as crypto market volatility slightly subsided.