XRP At $2 Today, $13 Tomorrow? Analyst Maps Out 3 Explosive Price Targets Using Rare Technical Si...

Whether altcoin season is in motion remains a topic of debate amongst market participants, although XRP is emerging as one of the few altcoins poised to hit a new price high soon.

Ripple’s XRP, the 4th most valuable cryptocurrency by market cap, might be preparing for an explosive run as market experts continue to outline bullish case scenarios for the altcoin.

Cryptocurrency analyst EgragCrypto, known on X as EgragCrypto, predicts that the altcoin could soar to never-before-seen levels, notably $6.7, $13, and $27, if certain technical hurdles are surmounted.

In an XRP technical chart shared with his followers on X, the analyst highlights 3 key areas using colored circles purple, red, and white to represent notable technical movements.

While the purple circle, which historically follows a bullish uptrend, marks the start of a bullish rally observed across different market cycles, the red circle denotes an incoming market crash.

This downward movement often occurs when the 21 EMA goes below the 33 SMA on the weekly chart, a trend that is later preceded by a market pump, likely to get rejected by both moving averages. The analyst asserts that the move marks the arrival of a bear market.

Conclusively, the white circle points to the 21 EMA avoiding a bearish cross with the 33 SMA on a weekly timeframe—an occurrence recorded only once, leading to a 1,200% surge in XRP’s price value

Laying out his bullish stance, the analyst wrote the following;

“It’s simple. We still have one leg which will be an epic, fast, and short-lived move that will hype everyone up, claiming we’ll never go back and that utility will take us to the moon. But remember such moves have rarely continued in one direction, if ever, happened in the past and probably won’t in the future. If you’re well-off and don’t need to sell, stay patient. But if not, don’t come crying to my DMs when things don’t go as planned.”

The analyst stated that should XRP surge by 1,200% from its current price of $2.24 or sustain a 600% gain in the near term, the altcoin will be valued at $27 or $13, respectively.

Meanwhile, a 300% upsurge, which marks a quarter of the 2017 market rally, would value the asset at $6.70.

XRP is trading at a press time price of $2.14, with 0.37% in 7-day gains.