Ripple (XRP) is forecast to hit $1.2 in the near future, according to prominent crypto analysts. Despite the recent market volatility, XRP has shown resilience, with bulls fiercely defending crucial support levels and setting the stage for a potential breakout.
EGRAG Crypto, a well-known Ripple analyst, recently highlighted the significance of the $0.41 level. The analyst tweeted, “Looking back at previous posts, we highlighted 0.41c as a crucial level, and it has proven to be significant.” The recent dip has led to a flush out, which many interpret as bearish. However, this could be the best thing that has happened for XRP.”
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Analyst predicts Ripple (XRP) to Reach $1.2
According to EGRAG Crypto, the next move for XRP could be a surge towards the $1.2 to $1.5 range, followed by a confirmation of a break above the $2 mark. This bullish prediction has generated excitement among XRP enthusiasts, as it could potentially lead to massive gains of 15X, 27X, or even 55X from current levels.
Another tweet, “XRP The White Flame (UPDATE): XRP is showing a wicked move, with the bulls defending fiercely on the Weekly Time Frame to close above $0.50,” further supports the analyst’s optimistic outlook.
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The fierce defense of the $0.50 level by XRP bulls on the weekly timeframe is a positive sign for the cryptocurrency. This action suggests that the current lower high is still ascending within the channel, indicating a strong structural formation that remains highly bullish.
Some are interpreting the recent market dip, which led to a flush out of weak hands, as a bearish signal. However, EGRAG argued that this could actually be a positive development for XRP, as it presents an opportunity for investors to accumulate the token at discounted prices prior to the anticipated breakout.