XRP Path to $17 with Bent Fork, 3,763% Surge Impending: Market Watcher

XRP Path to $17 with Bent Fork, 3,763% Surge Impending: Market Watcher

Source Node: 2633093

EGRAG, a well-known pundit in the XRP community, has outlined how XRP could cart its way to $17 in the coming months, pinpointing crucial indicators that would confirm the audacious outlook.

In a recent post on X, EGRAG updated one of the lineups of his prediction posts about XRP dubbed “The Bent Fork.” He created this series in June 2023, proposing a $15 target as the ultimate threshold for XRP based on the analysis, though he has since revised the value to $17.

In his latest commentary, the analyst spotlighted five factors that could indicate the journey to $17 has commenced. 

– Advertisement –

Indicators to Confirm Road to $17

First, EGRAG stressed the significance of XRP reclaiming the $0.4 region. Notably, XRP first breached below the $0.4 channel on July 5 but has mildly regained its footing. In the last 24 hours, XRP came dangerously close to relapsing to $0.39 again, setting an intraday low of $0.4047. However, XRP trades at $0.44, posting a 2% gain today.

Amid this mini recovery, EGRAG noted that the $0.75 threshold is the gatekeeper to confirm the initial phases of XRP’s bull surge. Specifically, the analyst stated that XRP conveniently closing above $0.75 would set the crucial path to reclaim for a new all-time high.

Notably, XRP abruptly surged by 20% in mid-March to attain $0.74 amid the broader buoyant market in Q1. Remarkably, XRP’s uptrend on that day was solitary and widely praised, attracting even a bullish sentiment from Ripple’s CEO Brad Garlinghouse.

– Advertisement –

To the dismay of many, the rally was short-lived; XRP commenced a downtrend from which it has yet to recover fully. 

With $0.75 being EGRAG’s requirement to confirm the trajectory to an ATH, XRP is now confronted with a formidable 70% bullish rally.

XRP Breaking $3.5 Sets the Stage for 3,763% to $17

Meanwhile, he observed that the $1 mark is acting as both a structural barrier and a psychological obstacle to the expected rise. Once surpassed, the next significant level is $1.8, which the analyst referred to as an equilibrium point.

Should XRP meet these criteria, EGRAG suggested that the XRP Army might anticipate a dramatic surge, potentially driving XRP by 3,763% to $17.

One last key indicator would be XRP surpassing its six-year-old all-time high, positioning the asset for more triumphant success. In EGRAG’s words, breaking $3.5 “could open the gates to Valhalla.”

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

-Advertisement-

Time Stamp:

More from The Crypto Basic