Analyst Sees $XRP Soaring 10,000%: Here’s Why - The Crypto Basic Analytics

Irma - Sep 26 - - Dev Community

EGRAG's analysis highlights that XRP currently sits at a crucial level, with the potential to either soar or plummet. On the bearish side, XRP could decline by 40% to 72%, breaking key support levels and Fibonacci retracement levels. This could result in prices dropping to as low as $0.15922 (39.31% drop) or even $0.11137 (72.48% crash), reflecting XRP's ongoing struggles since its 2018 peak.

Despite these risks, EGRAG points to an extraordinary upside potential if XRP breaks free from its long-term downward trend. A successful breakout could lead to a rally exceeding 10,000%, potentially elevating XRP's price to $26. Key Fibonacci extensions indicate targets of $8.34 and $26.57, contingent on XRP surpassing immediate resistance at $1.58.

Traders should monitor key levels: XRP must hold above the $0.236 Fibonacci level around $0.248 to avoid further declines. If it drops below this, major supports lie at $0.159 and $0.111. Conversely, a breakout above $1.58 could lead to a significant rally, with the next resistance at $3.31 and higher Fibonacci targets beyond that.

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