Analyst EGRAG Crypto has issued important advice for XRP holders about selecting price targets. His recent analysis highlights potential growth levels based on historical data.
Current Price Analysis of XRP
XRP is currently trading at approximately $2.15, having steadied around the $2 mark following a powerful rally in late 2024. This surge has prompted early investors to start realizing gains, with recent reports showing profit-taking averaging over $68.8 million per day on a 7-day simple moving average.
Historical Patterns and Future Possibilities
EGRAG's latest chart outlines a massive multi-year symmetrical triangle pattern that strongly resembles the setup leading to XRP’s legendary rally in 2017. This analysis suggests that XRP has once again broken out of a long-standing triangle dating back to 2018.
Legal Context and Its Market Impact
While technicals paint a bullish picture, the broader legal context is also critical. XRP continues to navigate its long-standing legal battle with the U.S. Securities and Exchange Commission (SEC). The legality of XRP, especially regarding institutional sales, remains uncertain, which could impact its future developments.
EGRAG Crypto's perspective on XRP emphasizes the importance of strategy in selecting price targets. XRP holders should approach their decisions with rationality and pre-plan their exit points.
