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.
