XRP Price Prediction: Will the Cryptocurrency Surge to $5, $9, or $27?

A well-known cryptocurrency analyst has observed technical and fundamental factors validating a potential price surge for XRP to three key levels

A pseudonymous cryptocurrency analyst known as Egrag Crypto has observed technical and fundamental factors that could support a potential price surge for XRP to three key levels: $5, $9, and $27.

According to the well-known cryptocurrency analyst, a key signal that a bearish formation is in play could be if the 21 exponential moving average (EMA) experiences a bearish cross with the 33 Simple moving average (SMA) on the weekly chart.

“The top was in, and we’re heading into a bear market. Many will still believe we’re advancing, but that cross signals a major trend shift,” the analyst stated.

Taking a step further, the analyst highlighted historical trends that could support a potential bearish outcome for the altcoin. In May 2018 and November 2021, the crosses mentioned above were observed on the XRP chart, after which an 87% and 72% drop in price value was recorded.

If the average cross movement is considered, the analyst sees the next major drop sending XRP down by 79.5% from the bearish cross point.

Conversely, the analyst observed other possibilities, stating that the aforementioned bullish patterns displayed in XRP’s technical chart could trigger another price rally for the fourth-largest cryptocurrency by market capitalization. This anticipated bull run could send XRP way ahead of its $3.84 all-time high and instead place the asset at a never-before-seen price value of $27.

“Based on these bullish signals, I believe XRP could see another major pump—similar to the 1600% move—this time pushing us toward around $27 from the current level,” the analyst concluded.

Despite recording a 5% decline in price value over the last week, XRP has managed to sustain momentum above $2. With hourly gains slightly climbing, XRP is trading at $2.34 at press time.