TL;DR

• EGRAG CRYPTO predicts XRP could rise to $1.12, with support at $0.28 and a “macro bottom” at $0.17.
• The analyst’s earlier forecasts ranged from $1.40 to a bold $27 after Ripple’s court wins against the SEC.
• An ascent to $27 would require XRP’s market cap to surpass $1.4 trillion.

Is XRP Poised for a Huge Spike?

Despite XRP’s recent price decline and the overall plunge of the cryptocurrency market, some analysts are still optimistic that the coin might head north in the following months. One example is the X (Twitter) user using the handle EGRAG CRYPTO. 

They recently presented a chart, according to which XRP could experience a so-called “Gods candle” that might drive the valuation to as high as $1.12. The coin first needs to overcome a major resistance level known as the “Berlin Wall” to have a chance for such a surge. 

“STAY STEADY, Keep dollar-cost averaging (DCA), and aim for a brighter financial future,” the analyst advised. 

EGRAG CRYPTO further explained that the $0.28 line could serve as “life support,” whereas $0.17 could be viewed as “macro bottom.”

Their Previous XRP Forecasts

The analyst laid out another prediction at the end of September, envisioning XRP to jump to $1.40 should it close above certain key levels “with undeniable confirmation.” A few weeks later, EGRAG CRYPTO changed their stance with a much more bullish forecast that depicts the asset trading at a whopping $27:

“I’m firmly on board with the exciting $27 journey, but we must also be prepared for the unexpected, which might just put XRP’s legendary nickname, “The Rise of The Phoenix,” to the test.”

This happened shortly after Ripple secured its second court victory in a row against the United States Securities and Exchange Commission (SEC). 

It is worth mentioning that such a price increase would require XRP’s market capitalization to skyrocket above $1.4 trillion. In comparison, the entire market cap of the crypto industry stood at around $3 trillion during its peak in 2021.