Crypto Analyst Predicts XRP Price in the Next 2 Years; Here’s How?

Crypto Analyst Predicts XRP Price in the Next 2 Years; Here’s How?

XRP is currently in a bullish position; however, the value it will ultimately reach in the next bull run depends on the next step it makes from this position. According to crypto researcher Egrag, depending on the direction it goes from where it is now, XRP could either go to $10 or begin a trajectory that would lead to a final price of $27 in another two years (2025).

Charts provided by Egrag show that if XRP follows the “Blue Ascending Triangle” path, it may reach $10 in the following two years. If the asset, however, follows the “White Symmetrical Triangle” trend, its price might soar to $27 by 2025.

Related Reading: Coinbase and Ripple Legal Teams Meet, XRP Listing Discussed?

How the XRP Breakout Will Happen

According to Egrag, the event that would indicate that XRP has broken out in either direction is when the asset closes above the 20-day moving average monthly. According to him, a breakout in any direction would be confirmed if XRP can record repeated closes above the moving average.

Historically, a breakout has always come before an XRP monthly closing above the 20-day moving average. Both possible outcomes in this impending breakout would be seen as bullish, but choosing the white symmetrical triangle direction might raise the price target for XRP by approximately three times.

The white symmetrical triangle and the blue ascending triangle courses contain some empty areas highlighted in the XRP chart. Egrag noted that XRP might move in directions that would fill these gaps before reaching its final aim. Although this would increase the time needed to reach the target, he pointed out that XRP might instead choose a shorter route and bypass these spaces.

The current price of XRP is $0.462006, and its 24-hour trading volume is $760,602,560. XRP has increased by 0.39% during the past day. Analyst CryptoBull recently noted that the asset has been trading in a band between $0.28 and $0.55 for the past year, as previously reported. Following one of Egrag’s two directions would indicate an exit from this range.

Read Also: Attorney Morgan Weighs in on Coinbase XRP Listing Prospects

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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