XRP price is facing consolidation after a slight 2% dip today, but analysts remain bullish on its future. A well-known expert has projected a staggering $70 target for the token, citing technical patterns rather than mere speculation. Meanwhile, other analysts also see significant upside potential for Ripple’s native asset, with price targets ranging from $3 to over $5 in the coming months.
XRP Eyes Massive Surge, Analysts Set Bold Targets
Renowned analyst EGRAG CRYPTO has outlined a compelling case for XRP’s explosive growth. In a recent post, he suggested that XRP could reach $70, emphasizing that his forecast is based on technical cycles and mathematical models. In a recent X post, EGRAG CRYPTO stated:
“I’ve been closely analyzing the strength of Wave 1 across various crypto charts, and after reviewing multiple projects, I’ve noticed a compelling pattern in #XRP that could signal a potential cycle top.”
He explained that his projections are grounded in logic, mathematics, and technical analysis rather than speculation. His research identifies two key price points—Stick 2 and Stick 3, with the latter indicating the $70 price level.
He further broke down his analysis into five crucial steps:
- i) Studying previous market cycles.
- ii) Focusing on the ongoing cycle.
- iii) Applying percentage formulas for price movement
- iv) Assessing potential corrections.
- v) Confirming price targets using technical indicators.
Other Experts Align With Bullish Predictions
Apart from this latest bullish prediction, other experts also predicted a strong rally for the XRP price. For context, crypto expert Dark Defender echoed similar sentiments, predicting an initial move to $2.42. He believes the real rally will begin once XRP surpasses the Ichimoku cloud resistance. He stated:
“XRP is expected to move towards $2.42 first. The real momentum will start after XRP stands above the Ichimoku clouds.”
He also highlighted support levels at $2.22 and $2.04, with targets extending up to $5.85. Meanwhile, another analyst, Rose Premium Signals, shared a bullish trade setup for Ripple’s native asset. According to their analysis, XRP is breaking out of a descending channel and could see gains in both the short and mid-term.
Their trade call suggests an entry range of $2.20–$2.40, with near-term targets at $2.60, $2.85, and $3.10. Mid-term projections point toward $3.36 and $3.87, with a stop-loss level set at $2.00.
Can XRP Hit $70? Here’s What To Watch
While a $70 price target seems ambitious, technical indicators suggest strong momentum for XRP. If key resistance levels are broken, the asset could enter a parabolic phase similar to previous bull cycles. Besides, despite the recent downturn, speculations soared as experts recently hinted towards a potential settlement in the Ripple Vs SEC case.
Notably, XRP’s value today was down nearly 1.8% to $2.33 while its trading volume soared 60% to $4.21 billion. Notably, this latest decline comes amid a broader crypto market slump, with BTC facing hurdles amid insider trading rumors. On the other hand, CoinGlass data showed that XRP Futures Open Interest also fell nearly 5% to $3.17 billion, reflecting the gloomy sentiment hovering in the market.
The post Analyst Predicts XRP Price To Hit $70 Citing Technical Movements appeared first on CoinGape.
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