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Date: May 8, 2025
A prominent market observer narrated a reasonable technical analysis earlier, highlighting a potential rise in XRP’s price to an unknown region.
Market expert Egrag Crypto confirmed XRP's potential for new price discoveries in an X post on May 7. The analysis highlighted a strong "epic gravitational descent" for the fourth largest cryptocurrency by market cap, with its goal being an increase of more than 11 times its current price.
This notable analysis comes in the wake of a price recovery for XRP amid a broader bullish momentum in the market. This digital asset has risen by 4% since the beginning of the day, driven by Bitcoin's surge to nearly $100,000 following the Federal Reserve's announcement on interest rate stability.
- Announcement -
XRP's rise is a natural path
Egrag pointed to a correct X analysis from December 2023, anticipating a massive rise in XRP’s price. The commentary highlighted the price evolution of the token within a wide range on the monthly timeframe, leveraging the inverted chart.
The chart shows XRP's entry into the market after reaching an all-time high of $3.55 in January 2018. While it attempted to break through Earth's atmosphere, peaking at $1.96 in April 2021, the decline in momentum and the prevailing regulatory uncertainty surrounding the XRP ecosystem prevented this explosion.
XRP Price Analysis/Egrag Crypto
However, Egrag noted that with gravity remaining steady, XRP would also be subject to the laws of nature. In the end, the asset overcame this huge barrier by breaking through the Fibonacci extension level of 0.72 at $1.20. The rocket-like rise of XRP from 50 cents to nearly two dollars in November ensured this breakout.
With the established law of gravity activated, Egrag identified three targets at the collapse. First, he anticipated a rise of 525% from the breakdown point, and 240% from the current level, reaching its all-time high of $7.5.
Furthermore, the second target was set at $13, an astonishing increase of 491% from today’s price. Ultimately, market observers confirmed the continuation of the "free fall" due to gravity to $27, representing an increase of 1140% from now, and a rise of 2150% from the breakout Fibonacci level.
- Announcement -
The analysis confirms XRP's price reaching $27
Meanwhile, analyst Amonyx also predicted a potential rise in XRP's price to $27 in a comment on Wednesday. He identified an upward bullish price movement for XRP in the attached chart, inspired by its historical performance.
XRP Symmetrical Triangle Breakout/Amonyx
To clarify, XRP broke out of a symmetrical triangle with an expansion surpassing 500% in November, with the upward momentum leading it to levels close to the asset structure peak at $3.55. The expert compared its recent price movement to a similar breakout in 2021, which saw the coin rise to Fibonacci extensions of 1.618 and 1.902.
Amonyx expressed confidence that XRP will reverse its performance, anticipating a rise similar to the extensions. The chart shows that Fibonacci levels 1.618 and 1.902 are at $27.16 and $71.4 respectively.
