XRP Primed For a “Mega Bounce” As much as $27, Based on Analyst

• EGRAG CRYPTO predicted in an X publish that XRP might soar to as excessive as $27 within the subsequent bull run.
• Based on the publish, the $27 goal coincided with a Fib 1.618 retracement stage.
• At press time, XRP was buying and selling at $0.5507 after its worth dropped 0.46% over the previous 24 hours.

EGRAG CRYPTO, a cryptocurrency dealer and analyst, predicted in an X publish yesterday {that a} “mega bounce” for XRP is “inevitable”. Ought to this bullish outlook develop into a actuality, he revealed that his upside goal for the remittance token is at $27, which was additionally the identical stage as a Fib 1.618 retracement stage.

Based on the publish, XRP was not in a position to attain its full potential within the earlier bull run because of Ripple’s lawsuit with the U.S. Securities and Trade Fee (SEC). Due to this fact, EGRAG CRYPTO believes XRP will most probably enter into an exponential transfer, fueled by this constructed up potential, within the subsequent bull cycle.

A pump to $27 would quantity to a 4,000% transfer for XRP from its present worth. The analyst added that this transfer additionally aligns completely with the Fib 1.618 retracement stage between the height the remittance token established in 2017 and its 2020 backside.

In the meantime, at press time, CoinMarketCap indicated that XRP was buying and selling arms at $0.5507. This was after the altcoin noticed its worth slip 0.46% over the previous 24 hours of buying and selling. Regardless of this, XRP’s weekly efficiency remained firmly within the inexperienced zone at +7.30%.

XRP was rejected by the $0.5670 barrier over the previous few days. This was after it was in a position to briefly break above the resistance stage to achieve a excessive of $0.5866 on Tuesday. Since hitting this peak, the altcoin’s worth entered right into a multi-day detrimental sequence.

This additionally prompted the day by day RSI line to alter its slope from optimistic to detrimental, which means that patrons’ power was starting to dwindle. Moreover, the day by day RSI line was closing in on the day by day RSI SMA line at press time. If these two strains cross, it might sign a change in tides for XRP merchants which can give sellers the higher hand.