XRP to rally over 900%

The price of XRP could potentially experience a remarkable surge of up to 585% or 900%, aiming to reach the $4 or $5.5 threshold, respectively. 

This projection comes following the recent formation of a ‘golden cross’ pattern on the cryptocurrency’s price chart, a bullish signal that has caught the attention of market analyst Egrag. 

Notably, a golden cross is said to occur when a relatively short-term moving average rises above a long-term moving average. This chart pattern, which is the opposite of death cross often indicates the potential for a major rally in the price of an underlying asset. 

XRP guaranteed 6X to 10X, analyst predicts

In a detailed assessment of XRP’s price trends, the expert technical analyst emphasized the significance of leveraging historical data in the analysis of crypto asset movements.  

Thus, Egrag used a 2-week timeframe XRP chart to show XRP’s minimum and shortest pumps observed in the past after the 21 Exponential Moving Average (EMA) crossed above the 55 Moving Average (MA). While he highlighted past smaller pumps only, it bears mentioning that golden crosses have often led to massive price surges for popular crypto asset. 

Per the published chart, this sort of crossover occurred in the first quarter of 2017 when XRP was still trading around $0.004 per token. After the 21 EMA crossed above the 55 MA at that time, XRP’s price increased by 902.85% to $0.0646 in the same quarter. Subsequently, the XRP Ledger native token rose to its all-time high of $3.31 in January 2018.

Another golden cross was seen on XRP’s chart in March 2021. At the time when the 21 EMA moved above the 55 MA, the Ripple-backed cryptocurrency was trading for $0.278 per token. Remarkably, the XRP price jumped 584% after the crossover, reaching a high of $1.96 in April 2018. 

Weighing in on the latest golden cross formation on the XRP chart, the pseudonymous analyst Egrag sees a huge upside for the 6th-largest cryptocurrency. Notably, the 21 EMA rose above the 55 MA on the two-week XRP chart in mid-March 2024. 

Citing previous occurrences, Egrag expects XRP to rise to either $4 or $5.5 in the coming weeks, translating to a 585.20% or 902.33% increase from its price at the time of writing — $0.622. Despite the analyst’s conviction, it bears noting that past performances do not always guarantee future outcomes.

However, factoring in other positive factors such as the potential launch of XRP exchange-traded funds (ETFs) and the escalating number of XRP holders, the utility token could rally massively in the prevailing bull market. 

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