27 January 2024
Crypto analyst Egrag Crypto has once again reiterated his prediction that XRP will hit $27 soon. This time, he provided an analysis of how that will happen using XRP’s moving average as a point of reference.
How Price Will Rise To $27
Egrag suggested in an X (formerly Twitter) post that XRP could rise to $27 while analyzing the 21 Exponential Moving Average (EMA) on the monthly time frame. The analyst assessed price percentages that occur when XRP’s price is positioned either above or on the 21 EMA. Using this, he then predicted that the altcoin hitting $27 was on the cards.
From the accompanying chart that the crypto analyst shared, one could see that he was simply hinting at XRP replicating past percentage moves. Back in 2017, XRP had risen by over 4500%. In 2018, it rose by another 1000% and saw a 500% increase in 2021 after years of consolidation.
This isn’t the first time that Egrag is predicting that XRP will rise to $27. As part of his previous analysis of how XRP will rise to this price level, he stated that this was a “plausible target,” having the 2017 surge in mind when XRP saw a 61,000% gain in 280 days. Interestingly, Egrag’s recent chart shows that this price prediction could happen sometime this year.
XRP To $1.4 Before Then
In the meantime, Egrag predicts that XRP could rise to $1.4 between March and April. According to him, once that happens, it will pave the way for “swift progression to $5 and beyond.” $5 is another price level that the XRP community has its sights on, considering that the analyst had boldly claimed that the token will hit it in 90 days.
Meanwhile, the crypto analyst is also aware of the fact that XRP investors are growing anxious about the crypto token’s stagnant price action despite ultra-bullish predictions. He warned 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.
To be successful in such a volatile market, Egrag claims that a strategic and disciplined approach is required. In the process, one is able to build mental fortitude. This is also critical as trading in the crypto space is “indeed a mental game, demanding robust, sharp, and resilient metal skills to navigate the dynamic and unpredictable nature of these markets.”
At the time of writing, XRP is trading at around $0.52, up over 3% in the last 24 hours, according to data from CoinMarketCap.