XRP Price to $27 In 60 Days? Top Analyst on Trend to Watch

The XRP price has what it takes to reclaim its all-time high (ATH) in the coming weeks, with a small chance of a double-digit breakout. According to EGRAG CRYPTO, citing key onchain charts, the XRP price can skyrocket by 1,700% in the next 60 days. The price of the top altcoin has showcased a largely erratic trend thus far this month as macroeconomic trends generally drag down its growth pace.

XRP Price and the Historical Breakout Potential

As EGRAG CRYPTO noted on X, the top coin repeats the last section or pattern from October 2017, which marked a big breakout for digital currency. The coin rallied for over 63 days, inking as much as 1,772% to record an all-time high of around $3.84.

The analyst noted that the XRP price may jump to $27 in the next 63 days if history plays out again. Zooming into the chart, the analyst noted that the 21-week EMA has formed a vital support level or a good defense against market bears.

He noted that as long as the coin remained priced above $2.3, the bullish momentum would remain strong. To further buttress the basis for the forecast, the analyst established the conditions to watch for a bullish breakout. 

As pointed out, a positive close above the Fib 1.414 level corresponding to $2.7 will signal a sustained upward momentum. However, he noted that a push above $3 will form the ultimate trigger.

Should the trend of October 2017 re-emerge, the next ATH might come around July 21, 2025.

Market Trend Signal Strength

Earlier this week, the market experienced another Bitcoin price ATH as the coin jumped above its previous record of $109,000. With this rally, the XRP price also benefited from this trend. Over the past seven days, the coin has recorded at least a 0.83% surge, with the price growing as high as $2.645.

At the time of writing, the coin was changing hands for $2.349, down by 0.75% in the past 24 hours. From a high of $3.69, the coin dropped as low as $2.29 before settling at its current level. 

The hype around the coin is real, as pro-crypto lawyer John Deaton predicted that XRP will flip Ethereum soon.

The XRP ETF Advantage

It is worth noting that the coin’s utility has positioned it for potential long-term adoption. Many asset management firms, including CoinShares, Grayscale Investments, and Bitwise, have filed for an XRP ETF fund in the US.

However, despite the optimism, the US Securities and Exchange Commission (SEC) has delayed its decision on the numerous filings. Earlier this week, CoinGape reported that the SEC delayed CoinShares XRP ETF filing.

Amid these delays, the market consensus shows that the market regulator will still grant approval before the final deadline. This optimism is helping with the XRP price resilience, with time defining how high it could soar.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.