Is XRP Price on Track to Hit $110? Analyst Weigh In

Analysts focus on the XRP price as it maintains a pattern of consolidation. Egrag Crypto, a prominent crypto analyst, predicts bullish developments for XRP. The XRP price holds stability as other analysts actively watch multiple technical indicators to trace emerging signs that might boost future price growth.

Egrag Crypto’s Prediction: $13 This Cycle and $110 in the Next Bull Market

Crypto analyst, Egrag Crypto, has developed a highly visible forecast showing price of XRP rising to $13 in the current market cycle. The price will then reach $110 in the next major bull market. The analyst’s prediction arises from an evaluation of the technical cup pattern breakout that shows potential for substantial price changes.

In addition, the analyst notes that price current market trends match up with what he had previously predicted. He predicts a potential breakout that would direct the cryptocurrency toward achieving new target prices.

The positive market outlook for XRP highlights key factors linked to Egrag Crypto’s forecasting accuracy. Compelling analytical reasons also explain why traders maintain a favorable position on XRP price future movements.

XRP Price Action: Consolidation and Key Support Levels

Meanwhile, XRP price maintains its current position by staying within well-defined price boundaries. Key support zones exist at $1.88 and $2.33 presenting important levels to confirm if the XRP price will drop or continue moving upward.

As a result, XRP needs to maintain strength above these support boundaries to demonstrate potential upward movement. A break below these levels could suggest that XRP is still in the midst of a corrective phase, and the digital asset could experience further downside.

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Hence, analysts believe XRP will initiate a major surge after it surpasses the immediate resistance level at $2.60. XRP stands to gain from the market recovery trend as it establishes support at key price points while preventing new downward movements.

Short-Term Outlook: $4, $5.85, and $8.76 Potential

Another analyst, MikyBull Crypto predicts XRP will reach $4 during the following month. According to market analysis and technical patterns, this projected price seems attainable during present trading conditions. A $4 target for XRP would create new possibilities for additional growth.

More so, analyst Dark Defender projects XRP will hit $5.85 before potentially exceeding this price point to reach $8.76 within the current and upcoming market cycles. Price of XRP shows potential for bullish reversal according to technical analysis as it exits its consolidation phase.

XRP has the potential for major price growth after breaking through its current resistance points. However, it needs to maintain a steady upward momentum to achieve these targets.

At press time, price of XRP is trading at $2.45, reflecting a 2.01% increase in the last 24 hours. The trading volume has reached $5.4 billion, a 6.33% rise, while the market cap stands at $141.73 billion, up by 1.99%. The price continues to show positive momentum in the short term.