XRP News Today: XRP Predicted to Surge 600% to $13 on Rare Technical Signal

XRP, the cryptocurrency developed by Ripple Labs, has garnered significant attention from analysts who are predicting substantial price movements. Currently trading at around $2, there is potential for it to surge to $13 in the near future. This optimistic outlook is based on a rare technical signal that has historically been accurate in forecasting multi-month runs in the cryptocurrency market.

Cryptocurrency analyst EgragCrypto, known on X as EgragCrypto, predicts that the altcoin could soar to never-before-seen levels, notably $6.7, $13, and $27, if certain technical hurdles are surmounted. In an XRP technical chart shared with his followers on X, the analyst highlights 3 key areas using colored circles—purple, red, and white—to represent notable technical movements. The purple circle, which historically follows a bullish uptrend, marks the start of a bullish rally observed across different market cycles. The red circle denotes an incoming market crash, often occurring when the 21 EMA goes below the 33 SMA on the weekly chart, a trend that is later preceded by a market pump, likely to get rejected by both moving averages. The analyst asserts that the move marks the arrival of a bear market. Conclusively, the white circle points to the 21 EMA avoiding a bearish cross with the 33 SMA on a weekly timeframe—an occurrence recorded only once, leading to a 1,200% surge in XRP’s price value.

Laying out his bullish stance, the analyst wrote the following: “It’s simple. We still have one leg which will be an epic, fast, and short-lived move that will hype everyone up, claiming we’ll never go back and that utility will take us to the moon. But remember such moves have rarely continued in one direction, if ever, happened in the past and probably won’t in the future. If you’re well-off and don’t need to sell, stay patient. But if not, don’t come crying to my DMs when things don’t go as planned.” The analyst stated that should XRP surge by 1,200% from its current price of $2.24 or sustain a 600% gain in the near term, the altcoin will be valued at $27 or $13, respectively. Meanwhile, a 300% upsurge, which marks a quarter of the 2017 market rally, would value the asset at $6.70.

The analyst who mapped out these price targets used a technical signal known as the "Golden Cross." This signal occurs when the short-term moving average crosses above the long-term moving average, indicating a bullish trend. The analyst's forecast suggests that XRP could reach $13, with intermediate targets set at $5 and $9. These predictions are based on the assumption that the current bullish structure and price action will continue to drive the cryptocurrency's value upward. The "Golden Cross" is a rare signal that has been historically accurate in predicting significant price movements. It signals the start of a multi-month run, which could be beneficial for investors looking to capitalize on the potential growth of XRP.