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In a recent post on X, @egragcrypto noted that XRP appears ready to make a massive rally that could break key resistance levels and deliver massive gains to XRP holders.
The analyst used “The Bent Fork Chart” to create a blue sky scenario for XRP’s price action. He noted that the new top target for the token was $17, a level that could be realized next year.
XRP has created a critical resistance level at $2.5, with this price acting as a structural and psychological barrier. The last time XRP held levels above $1 was in late 2021 when the market was bullish.
@egragcrypto noted that if XRP breaks the crucial hurdle, the next target will be creating a fresh all-time high. A new XRP ATH “could open the gates to Valhalla,” according to the analyst.
 
On the short-term outlook, XRP must create a solid uptrend to overcome the “gatekeeper” price level. XRP aimed for this price in March this year as the cryptocurrency market rallied because of the hype around Bitcoin exchange-traded funds (ETFs).
If XRP overcomes $3.5, breaks the psychological barrier at $3.8, and creates a new all-time high, @egragcrypto believes the next major target will be $17.
According to this analysis, XRP is set to explode by 3,763% for the target price of $17 to be achieved. XRP was trading at $3.01 on September 11 after a 1.3% gain in 24 hours.
Ripple CEO Appears on Crypto Roundtable With Democrats
The CEO of Ripple Labs, Brad Garlinghouse, was among the executives invited to a crypto roundtable with US Democrats and “Shark Tank” investor Mark Cuban. Democrat Congressman Ro Khanna organized the crypto roundtable to discuss the issues facing the cryptocurrency industry.
During the meeting, Garlinghouse stated that most Democrats supported the US Securities and Exchange Commission (SEC) Chair, Gary Gensler, in his “unlawful war on crypto.” He also noted that Gensler’s anti-crypto stance gave the Republican Party an edge in the Presidential campaigns.