XRP News Today: XRP Bullish Cross Suggests 1500% Surge 9 Target in Sight

XRP has reignited attention as technical indicators suggest a potential bullish phase. The cryptocurrency’s weekly price action recently saw a crossover of its 21 EMA and 55 SMA trendlines, a pattern historically linked to significant rallies. Egrag Crypto, a noted analyst, highlighted this event on October 2024 as a continuation of a 560% surge from its September 2024 low. This follows similar crossovers in 2017 and 2020, which preceded 40,000% and 750% gains, respectively [1].

The current cycle’s trajectory remains uncertain, with two possible price targets outlined by Egrag. The first projection assumes a 1,500% rally—double the 2020 surge—positioning XRP at $9. A second, more aggressive scenario, envisions a 4,000% move, echoing 10% of the 2017 spike, which would value XRP at $24 [1]. These projections hinge on historical parallels and current buying pressure but remain speculative.

XRP’s recent price action reflects volatility. After hitting a 2024 high of $3.65 on July 18, it retreated to test $3.00 support by July 24, failing to break below but consolidating above this level. Analyst CasiTrades noted that a completed subwave 2 correction has established $3 as a potential floor, with a third wave possibly forming if volume increases and the price reclaims $3.21 resistance. A breakout above this level could target $3.82, aligning with key Fibonacci levels and historical all-time highs [1].

The cryptocurrency is currently trading at $3.17, having dropped from its July peak. Despite this correction, XRP has risen 45% month-to-date, indicating resilient demand. However, analysts caution that broader market conditions and regulatory clarity will influence whether bullish forecasts materialize. For instance, a $24 target would require significant institutional adoption and resolution of ongoing legal challenges in the U.S. [1].

While the $9–$24 range represents a more aggressive outlook, conservative estimates suggest near-term targets between $5 and $7. These projections depend on whether the current rally mirrors the 2017 or 2020 patterns rather than the weaker 2023 spike excluded from Egrag’s model [1].

Investors are advised to monitor on-chain activity and institutional interest as key drivers. A sustained hold above $3.21 could validate the $3.82 target, potentially setting the stage for Egrag’s higher projections. Conversely, a failure to maintain this level might extend consolidation, delaying further upward momentum.

Sources: [1] [XRP Bullish Cross Playing Out Again: $9 Or $24 Next?](https://www.newsbtc.com/altcoin/xrp-bullish-cross-playing-out-again-9-or-24-next/)