2023-11-28 20:00 |
Crypto analyst Egrag Crypto continues to maintain his bullish stance on the XRP token. This time, he is predicting that the token could rise to as high as $27. He also laid out why this is a real possibility.
How XRP Could Climb To $27In a post shared on his X (formerly Twitter) platform, Egrag highlighted $1.3, $3, $5.8, and $27 as the “next stops” for XRP. He mentioned that $27 feels like a “plausible target,” having the 2017 surge in mind when the token saw a 61,000% gain in 280 days. According to Egrag, on the way to $27, $3 and $5.8 “stand as critical milestones.”
Once that is done, the road isn’t going to be all clear for the token on the way to $27, though. The analyst believes that XRP pushing to between $6 and $7 might come with “some turbulence.” He further shared a chart to illustrate how the current price action and a “yellow fractal pattern” indicate a striking similarity.
Egrag noted that if the pattern persists, then the community can expect XRP to hit $0.55, followed by $0.75. If that happens, the crypto analyst stated that the next level will be the pivotal goal of $1.3, which happens to be a crucial resistance level.
Egrag seemed very optimistic about the future of XRP. He mentioned that the ecosystem is set to enjoy a surge of liquidity in the next bull run. He also alluded to the fact that XRP happens to be the safest investment choice as a result of the regulatory clarity it enjoys.
Regulatory Clarity Is The Biggest Selling PointRegulatory clarity continues to be a constant as many analysts tip XRP as one of the tokens that are going to see immense gains in the next bull run. Recently, prominent crypto analyst CryptoInsightUk shared his thoughts on whether XRP could enjoy a similar success to the one back in 2017.
One of the factors that he mentioned is the fact that XRP is in “a unique position” following Judge Analisa Torres’ ruling that the token isn’t a security in itself. Ex-banker and financial expert Kyren also alluded to this fact when he mentioned that the next bull run “will be a special one for XRP.”
Ripple’s Chief Legal Officer (CLO) Stuart Alderoty had previously mentioned that XRP has a unique positioning in the US since it has been declared as a non-security.
This regulatory clarity is believed to have helped revive interest in the token. Many exchanges have also gone to relist the token, and many seem to be showing more interest in XRP.
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