- Analyst EGRAG CRYPTO predicted that XRP’s price will climb to $10 within the next cycle.
- The trader also forecasted that XRP climbing to $124 is also on the crypto’s roadmap.
- Two bullish technical flags were on the verge of being triggered, which could see XRP break above $0.5686.
The crypto trader and analyst EGRAG CRYPTO predicted that the price of Ripple (XRP) will climb to $10 within the next cycle in a tweet published yesterday. According to the post, the remittance token’s price may even rise to as high as $124 soon.
In a tweet created on Monday, the trader predicted that XRP hitting $10, which is also the 1.618 Fib level, “could be a breeze.” In addition, the 2.618 Fib level is at approximately $124, and is also on the cards for XRP, noted EGRAG CRYPTO.
Daily chart for XRP/USDT (Source: TradingView)
A bullish ascending triangle was present on XRP’s daily chart, which, if validated, could result in the altcoin’s price rising to $0.6935 in the next few weeks. An early indication of this bullish thesis playing out will be when XRP’s price is able to close a daily candle above the 9-day and 20-day EMA lines.
It was able to break above the two technical indicators earlier in today’s trading session, but was forced back down to below the two lines, where it continued to trade at press time. If XRP’s price is able to close a daily candle above the two EMAs within the next 48 hours, then it will attempt to flip the resistance level at $0.5686 into support.
There were also two bullish technical flags that were on the verge of being triggered. The daily RSI line was looking to cross above the daily RSI SMA line. In addition, the 9-day EMA line was looking to cross above the longer 20-day EMA line. Should these technical flags trigger in the next 2 days, XRP’s price could overcome the $0.5686 resistance within the next week.
On the other hand, if the crypto’s price is unable to close a daily candle above the 9-day and 20-day EMA line in the next 2 days, it could break below the next support level at $0.47. If this happens, it will invalidate the bullish ascending triangle pattern that was present on XRP’s daily chart. This will also put XRP at risk of dropping to $0.4132 in the next week.
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