XRP came to the fore in the past week as a large headliner when the US Securities and Exchange Commission (SEC) officially dropped his four -year case with Ripple. In particular, this development resulted in a considerable demand for XRP, because the Altcoin rose by more than 13% to act briefly at $ 2.60 on March 20. However, XRP has since been withdrawn over the past 24 hours and is now appreciated at around $ 2.39. Although the Altcoin still remains for large bullish profits based on recent analysis by markt expert Egrag Crypto.
XRP Strong Monthly Close indicates a large upward potential
In one X On March 21, Egrag Crypto shares an interesting bullish prediction on the XRP based on price action in recent months and the Fibonacci retracement levels. The analyst notes that XRP is consistently closed above FIB. 1.0 level in the past three months and forms candles of the entire body. This development shows the resilience of XRP in the midst of an uncertain crypto market that strengthens the potential of Bullish Momentum. This is because Candles Full-Body offer a stronger confirmation of price movements compared to Wick formations. With the Altcoin who maintains such a strong technical strength, Egrag predicts that XRP could soon win with its first target price at FIB 1,236. However, there is no serious resistance at this level that a continuous increase in FIB Circle 5 and FIB 1.414 IU suggests a price range of $ 5- $ 6.
Based on the Fibonacci levels, XRP could then see the most important price extensions to FIB 1.618 on a potential price target of $ 9- $ 10. However, it is noticeable that the timing of these events is quite consistent for XRP and the general crypto market. According to Egrag Crypto, if the expected price profits between now and May occur, a price correction will probably follow on a hint on a continuation of the Bull Run and higher price goals for XRP. However, if the expected price movements take place in the summer of 2025 or in Q4 2025, this could suggest a market top, which marks the end of the current market cycle.
XRP -Market overview
According to Coincodex, Market sentiment is currently neutral because the crypto market is struggling to set up a clear process. However, there are some important potential positives for the fourth largest cryptocurrency on the horizon. Apart from recent legal developments, Ripple CEO Brad Garlinghouse has expressed A lot of optimism at an XRP spot ETF suggests a possible approval before 2025 runs out. Moreover, Garlinghouse expects US President Donald Trump XRP to include in the Digital Asset Stockpile. At the time of writing, XRP trades at $ 2.38, which reflects a price loss of 1.43% in the last day. In the meantime, the daily trade volume of the active falls by 31.64% with a decrease in market interest rate despite a recent price increase.