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The Stars Align: Crypto Analyst Predicts 1,700% Rally For XRP In 2 Months | Bitcoinist.com
XRP To Replay 2017 Explosive Rally To $27
Egrag Crypto, a prominent crypto analyst, has presented a striking forecast for the XRP price in an analysis on X (formerly Twitter). According to the post, the token could be on the verge of replicating one of its most legendary historical price surges, with the potential to rise by 1,700% over the next two months.
Related Reading: Pundit Says XRP Price Will Stabilize At $1,000 And Become ‘Very Expensive’At the heart of this bullish price prediction is a comparative study of XRP’s meteoric rally in 2017, when the altcoin surged by over 1,772.13% in just 63 days beginning from October 30. Egrag Crypto has overlaid this historical surge with current market behavior, and according to the analysis, the altcoin is showing uncanny similarities to its 2017 bullish setup and could end up completely repeating this pattern
The analyst’s chart features an expansive Fibonacci circle framework, with concentric arcs possibly representing future zones of resistance and support. Within this macro pattern, XRP is forming a triangular consolidation, just like it did in its previous ATH breakout
Major Fibonacci levels have also been marked on the chart. A breakout of the 1.0 Fib around $3.35 is seen as a gateway for exponential growth, with additional targets placed at $8.489 (1.272 Fib), $13.79 (1.414 Fib), and an eventual moonshot toward $27.68 based on the 1.618 extension
Zooming In: Key Resistance And Support Levels To Watch
While the macro view of Egrag Crypto’s XRP price chart showcases a stage for a grand rally, zoomed in, the chart shows that the altcoin is currently consolidating within a Symmetrical Triangle pattern.
Related Reading: XRP Reaching Oversold Levels As Net Flows Turn Negative, What’s Next?The chart also shows that the 21-week Exponential Moving Average (EMA), situated near the $2.3 price level, is acting as a vital support area and last line of defense for the token. The analyst has indicated that holding above this line is critical to XRP maintaining bullish momentum
From a resistance standpoint, the analysis highlights $2.7 as the first major threshold to overcome, coinciding with the 1.414 Fib. A close above this level would be a clear breakout signal that could trigger a rally toward the $3.00 – $3.35 zone. Additionally, surpassing this region would potentially mark the start of the projected parabolic run to a cycle top in July
Notably, XRP won’t be the only cryptocurrency potentially experiencing a bull rally during the 63-day timeframe. Egrag Crypto suggests that Bitcoin (BTC) and the broader crypto market could also enter a new phase of bullish expansion around the same period.