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The analyst sees XRP increasing 1,500% in four weeks.
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XRP follows a pattern already seen in 2017, so there is likely to be a rebound.
The cryptocurrency market analyst known as Egrag Crypto predicted a bullish rebound for XRP, the cryptoactive of Ripple Labs, which could lead to this asset above USD 27 in a matter of weeks.
According to the specialist, XRP is currently above the so -called upward market support band (BMSB), A key indicator to determine if an upward or bassist market is ongoing.
«Currently, we are positioned above the BMSB,» said Egrag Crypto, and clarified that the currency has fallen to the «purple base», a psychological level of resistance, «and has made contact with the BMSB.»
This XRP behavior follows a pattern observed in 2017, when the cryptocurrency had a similar performance, says the analyst, which caused an increase of 1,500% in just 4 weekspointing at $ 1.61.
In this context, Egrag Crypto points out that, at this time, XRP reflects the 2017 pattern. Therefore, if this trend mimics that of that year, «we could see XRP increase 1,500% again in just 4 weeks,» says the analyst.
«The measurement begins in USD 1.71 and, if this prediction is fulfilled, it would land near USD $ 27 per currency,» according to Egra Crypto.
XRP rose 360% in a year
XRP has been one of the Altcoins that has grown the most in the last year, accumulating a 360%increase. This growth has been promoted by several factorsamong which the regulatory changes and improvements in the United States.
Recently, a judicial decision in the case of the Bag and Securities Commission (SEC) against Ripple Labs provided some regulatory clarity In determining that XRP sales in the secondary market are not considered values, which has increased investor confidence.
In addition, the use of XRP in liquidity solutions on demand by Ripple has increased its practical utility, especially in international markets, where fund transfer can be expensive and slow. This combination of regulatory clarity and real utility has contributed significantly to the increase in its value.
At the close of this report, XRP is negotiated at 2.42 dollars, which represents a 15% setback in a week. However, despite this fall, XRP is still quite above its price at the beginning of 2024when it was around $ 0.50, showing strong recovery and growth throughout the year.
This week, cryptootics reported that Transers have anticipated price movements for XRP based on chain data and other market orders. However, these analyzes suggest low -term bassist movements, contrasting with the medium -term bullish perspective presented by Egrag Crypto.