Crypto analysts are currently optimistic about the XRP price trajectory in the coming months, setting various price targets, some of which are more bullish than others. XRP, like most top cryptocurrencies, is always subject to analyst price predictions as the entire crypto market continues to anticipate the resumption of a market-wide rally.
Consequently, experts on social media are calling for some pretty wild price targets for XRP if the bull run resumes. Other market factors, such as the possibility of a XRP ETFwill undoubtedly also play a role in the search for a price rally.
Crypto Analysts Remain Bullish on XRP Despite Price Consolidation
XRP has fallen in price since the beginning of the year. At the time of writing, the XRP price is trading at $0.5375, down 14% from the $0.625 level in early January. Particularly the price movement recently gained momentum at the beginning of February while the broader cryptocurrency market witnessed an inflow led by Bitcoin. As a result, XRP climbed to the $0.57 price level on February 15.
In spite of the continued consolidation And lame price actionCrypto analyst EGRAG CRYPTO has predicted an XRP price target of $1.4 in the coming months. The analyst, known for his strong bullish stance on XRP, made this prediction while looking at XRP’s wicking, range, consolidation, and bullish phases.
According to a color coded price chart shared on social media by EGRAG, XRP is currently in the wicking phase. XRP recently closed above a long-term support level of $0.5141 at the top of the red flag phase. Consequently, we could see XRP move towards the bullish phase of $1.4 in the coming months.
It is worth noting that the $1.4 price coincides with a Fib extension of 1.618 of $0.3536. EGRAG had noted in the past that an XRP value of $1.4 would pave the way for a rise to $5.
Dark Defender, another crypto analyst, used the wave strategy to predict several bullish price points. According to a post on social mediaXRP could continue its current downturn until it reaches the end point of a wave 2 correction between $0.5198 and $0.5066. Subsequent waves 3, 4 and 5 would then see XRP tear past $0.6649, $0.7707 and $0.9191.
Analyst Dr. Profit too noticed the potential of the inflows flowing into XRP over the next 30 to 60 days. The analyst revealed that he recently bought 500,000, while calling XRP the “next shining bull.”
In the spirit of optimism, a popular Bitcoin day trader recently announced that his father had sold his house for $800,000 and earmarked the proceeds to purchase XRP. While this may seem very daring and unbelievable, it highlights the enormous optimism among some XRP investors.
XRP rises to $0.53 | Source: XRPUSD on Tradingview.com
Featured image from CryptoRankl, chart from Tradingview.com
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