XRP Faces Setbacks, but Analysts Remain Optimistic About Its Potential Price Surge

Analysts remained optimistic about XRP's potential price surge, predicting that the crypto will pass the critical test and hit somewhere

Analysts are remaining optimistic about XRP's potential price surge despite the setbacks that it is facing lately.

As the altcoin faces some challenges to regain momentum for a bullish run, investors saw a 20% drop in the past month.

What Happened: Analysts expressed their confidence in the capability of XRP (CRYPTO: XRP) to bounce back amid the decline in its trading volume.

One of the crypto analysts who remained confident on XRP is Egrag Crypto, who made a bold prediction on a possible surge. He said that XRP is operating on a cycle that might result in huge price levels in the future.

"Still vibing with the good times. New cycle highs coming for XRP. We're talking $33 to $70 potential, putting into consideration both its short-term volatility and long-term potential. What do you guys think?," Erag questioned his followers.

Erag expressed confidence in the percentage formulas he used to determine XRP's price direction, adding that he identified two main targets: Stick 2 and Stick 3, which pertain to $33 and $70.

"Loving the Wave 1 deep dive—XRP got that fire, right? Your cycle analysis is spot on—668% vibes from $0.50 to $3.84, then stacking it again feels spot on, doesn’t it? And those percentage formulas—$33 to $70—Stick 2 and Stick 3, spot targets—50% and 80% discounts make total sense," @terryki04112392 commented on Erag's post.

The crypto expert explained that XRP is currently sitting in a price channel that will influence where it will be heading, adding that the crypto's price is near $2.83, a critical level that could project strength.

"If we break that level, we might propel towards $4.20 in the near term but if the coin fails to have a firm grip above the current levels, it might test support levels below."

According to the analyst, $2.40, which was the previous day's high, and $2.97, which was the week's high, are two key levels to keep an eye on.