XRP News Today: XRP Holds Key Level Above $1.75 for Potential 477% Gain

XRP, the cryptocurrency developed by Ripple Labs, is currently holding a key level that could potentially lead to a significant price increase, according to various analysts. The cryptocurrency is trading above the Gaussian Channel’s upper boundary, set near $1.75, which is seen as a bullish signal. However, if XRP dips back into the channel, it could threaten the current uptrend and pull the cryptocurrency into a prolonged sideways drift.

Analyst EGRAG CRYPTO has released a bold new projection for XRP, highlighting the coin’s current position outside the Gaussian Channel on the weekly chart as a pivotal signal for what could become a multi-fold rally. The analyst predicts that XRP could reach price targets between $9 and $10 during the next Elliott Wave leg. However, this bullish scenario comes with a critical warning: a close inside the Gaussian Channel could break the cycle’s momentum, pulling XRP into a prolonged sideways drift.

The 21-week Exponential Moving Average (EMA) plays a key role in identifying trend strength. Closing below it is bearish, though minor deviation is viewed as macro consolidation. Full weekly candle closures above it, on the other hand, represent strong bullish momentum. EGRAG highlights $2.33 as the immediate resistance, with a break above $2.65 serving as a “GO/GO” confirmation of XRP’s next major bull phase.

Using standard Elliott Wave theory, the upcoming Wave 5 is expected to be explosive. According to EGRAG, Wave 5 typically reaches between 1.236 to 1.618 times the length of Wave 4. An additional approach based on 61.8% of combined Wave 1 and 3 places XRP’s potential upside at 477%, which translates to a $9–$10 target range. This prediction is based on the cryptocurrency's historical price behavior and its current consolidation phase.

The bullish sentiment surrounding XRP is also fueled by increased adoption and legal clarity. Ripple Labs, the company behind XRP, has been making significant strides in expanding the use of its cryptocurrency in the financial sector. The company has partnered with several financial institutions to use XRP for cross-border payments, which has increased the demand for the cryptocurrency. Additionally, the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has been a source of uncertainty for XRP investors. However, recent developments in the case have provided some clarity, which has boosted investor confidence in the cryptocurrency.

EGRAG CRYPTO’s analysis paints a high-stakes scenario for XRP. Above $1.75, the bullish consolidation is intact. Below $1.75, there is a risk of entering a prolonged neutral phase. Above $2.65, it is a green light for the next macro breakout. With technical structure still favoring bulls, XRP may be on the edge of a significant upward leg—but only if it continues to hold key levels. “Keep an eye on those critical levels,” EGRAG advises. “The future looks promising—if we hold the line.”