XRP: Three Reasons Why the Price Rise Has Not Ended

XRP has faced strong selling pressure over the past few weeks, with the price falling to $2.69 yesterday before bouncing back to $2.80. This decline marks the lowest point since July and has caused disappointment in the community, as some long-term holders publicly question whether this asset will ever achieve the breakout they have been waiting for. Despite the instability, some analysts remain optimistic about the long-term prospects of XRP. Technical analyst EGRAG argues that the recent pullback is just "short-term noise" and the overall bullish structure of XRP is still intact. 3 Reasons Why the Price Surge Has Not Ended EGRAG has highlighted three factors reinforcing its optimistic stance. First, XRP continues to maintain its monthly candle body structure, a sign that its overall trend has not yet been broken. Second, this token has not fallen below key Fibonacci retracement levels, with the $1.99 level serving as a strong support. Finally, XRP continues to trade above the 21-day exponential moving average (EMA), an important indicator of sustainable growth momentum. "Unless these conditions are broken, the upward momentum of $XRP is not yet over," EGRAG predicts. He predicts that XRP could soon reach a target of $3.90, a new all-time high, and in line with the Fibonacci 1.272 level on the monthly chart.

Looking further ahead, he predicts the price could rise to $9.22, corresponding to the Fibonacci level of 1.618, an increase of nearly 230% from the current level. EGRAG has also set even higher targets for the current market cycle, ranging from $18 to $46. Such growth would represent an increase of over 500% to more than 1,500%. Other Analysts Agree EGRAG is not the only one optimistic. Analyst Matt Hughes, known by the nickname "Mattsby Vĩ Đại", also sees strength in the setup of XRP. He points to the performance of XRP in the Gann Fan model on the weekly chart, noting that this asset has continuously surpassed major resistance levels, including $0.50, $1.00, and the peak of $1.96 in 2021, turning them into solid support areas. Even the psychological barrier of 3 dollars has repeatedly served as a stepping stone. Hughes refers to this level as the "final boss" of XRP, implying that once it is established as long-term support, a parabolic breakout could occur. Macroeconomic investor Raoul Pal also agrees with this view, adding that XRP is currently "completely turning" towards higher levels as capital flows rotate from Bitcoin. Feelings Are Still Divided However, not all investors share this optimistic belief. Crypto influencer Bitlord recently threatened to sell his holdings of XRP if the price falls to 2 dollars, expressing his disappointment after holding for more than a decade. However, despite the community's disappointment, XRP has still increased by over 410% compared to the same period last year, with the current price being $2.80, solidifying its position as one of the best-performing altcoins in the past year.