Crypto analyst Egrag Crypto has once again reiterated its prediction that XRP will soon reach $27. This time he gave an analysis of how that will be done using The moving average of XRP as a reference point.
How the price will increase to $27
Eggag represented in an X (formerly Twitter) after that XRP could rise to $27 if we were to analyze the 21 Exponential Moving Average (EMA) over the monthly time frame. The analyst assessed price percentages that occur when the price of XRP is positioned above or at the 21 EMA. Based on this he then predicted it the altcoin reached $27 was on the cards.
From the accompanying chart that the crypto analyst shared, you could see that he was simply alluding to XRP replicating previous percentage moves. In 2017, XRP was up over 4,500%. In 2018 it rose another 1000% and in 2021 it rose 500%, after years of consolidation.
Source: X
This isn’t the first time that Egrag predicts that XRP will rise to $27. As part of being previous analysis on how XRP will rise to this price level, he stated that this was a “plausible target,” with the surge of 2017 in mind when XRP saw a 61,000% gain in 280 days. Interestingly enough, Egrag’s recent chart shows that this price prediction could happen sometime this year.
XRP to $1.4 before then
Meanwhile, Eggag predicts that XRP could rise to $1.4 between March and April. Once that happens, he believes, it will pave the way for “rapid progression to $5 and beyond.” $5 is another price level that the XRP community is paying attention to, given that the analyst had boldly claimed that the token will reach it within 90 days.
Meanwhile, the crypto analyst is also aware of the fact that XRP investors are becoming increasingly worried about the crypto token’s stagnant price action despite ultra bullish forecasts. He cautioned these individuals against letting their emotions get in the way as the outcome of these emotions is “suboptimal” for effective trading or investing in the crypto space.
According to Egrag, to be successful in such a volatile market requires a strategic and disciplined approach. You can build mental strength during this process. This is also critical because trading in the crypto space “is indeed a mental game, requiring robust, sharp and resilient metal skills to navigate the dynamic and unpredictable nature of these markets.”
At the time of writing, XRP is trading around $0.52, up over 3% in the last 24 hours. facts from CoinMarketCap.
Token price rebounds after drop | Source: XRPUSD on Tradingview.com
Featured image from CoinJournal, chart from Tradingview.com
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