Here’s Why an XRP Rally to $17.5 is Now on the Cards

Prominent market analyst EGRAG Crypto recently explained why he believes XRP is on track to reach a double-digit price. In his latest price analysis, he highlighted a pattern observed during the 2020/2021 market run, which eventually led to a follow-up rally to the $1.96 high in mid-2021. EGRAG suggested that this pattern is playing out again in the current cycle, predicting a possible uptick to $17.5. Specifically, this pattern involves XRP's interaction with the 21-week exponential moving average (EMA), which has over the years acted as either resistance or support, depending on the prevailing market trend.  https://twitter.com/egragcrypto/status/1937783445087822194 XRP Historical Run from 2021 Historical data indicates that in early 2020, XRP slipped below the 21-week EMA, eventually dropping to a cycle low of $0.1140 in March 2020 amid a consistent price collapse. As a result of the slip below the 21-week EMA, this moving average turned to resistance, posing a roadblock to XRP's breakthrough for 19 weeks. However, XRP eventually conquered the resistance in late July 2020. Following the breakout, the price rally persisted over a few months, with XRP soaring to a peak of $0.79 by November 2020. This peak represented a 592% increase from the $0.1140 low from March 2020. Nonetheless, the roadblock at the $0.79 peak led to a pullback, with XRP entering into a consolidation phase for several weeks. During this consolidation period, XRP continuously retested the 21 EMA, leveraging it as support.  Meanwhile, after reaching a low of $0.3684 in February 2021, XRP recovered to stage a second rally. This second rally pushed XRP to a new peak of $1.96 by April 2021, in the heat of the 2021 bull run.  This second top represented a 432% increase from the $0.3684 low in February of that year. According to EGRAG, during the 2021 run, several individuals underestimated XRP's rally. However, the numbers it boasted told a different story. XRP Appears to be Repeating the Same Pattern EGRAG's chart shows that XRP appears to be repeating the same pattern. Specifically, XRP broke above the 21-week EMA during the Trump-led market-wide upsurge last November. Like in 2020, this breakout led to a peak of $3.4, representing a 580% uptick from the $0.5 price level from early November 2024. However, following this peak, a pullback occurred in February, and XRP now trades within a consolidation phase. This consolidation also resembles the range-bound phase from the previous cycle, as XRP has consistently retested the support at the 21-week EMA.

EGRAG believes XRP is on the verge of repeating the second rally from 2021. According to his projection, this second uptick could push XRP price to a new peak of $17.5, representing a 695% rise from the current $2.2 price baseline. According to him, he arrived at this price by observing the surges from various rallies in relation to the 21 EMA. Currently, XRP changes hands at $2.12, up 5.42% this week after what appeared to be a bloody weekend last week. When asked about the time he expects XRP to begin the second rally, EGRAG warned against trying to time the market.