XRP Price Prediction: Renowned Analyst EGRAG CRYPTO Sets a Staggering $70 Target for the Token

XRP price is facing consolidation after a slight 2% dip today, but analysts remain bullish on its future.

In a surprising turn of events, renowned analyst EGRAG CRYPTO has set a staggering $70 target for XRP in the coming months. Though his prediction seems bold, the expert elaborated on his analysis, unveiling technical patterns that could support this massive rally.

This projection arrived after XRP price today faced consolidation following a slight 2% dip, yet several experts remain bullish on its future. Apart from this latest prediction, other experts also predicted a strong rally for the XRP price. For context, crypto expert Dark Defender expressed similar optimism, anticipating an initial move to $2.42. He believes the real rally will begin once XRP surpasses the Ichimoku cloud resistance.

“XRP is expected to move towards $2.42 first. The real momentum will start after XRP stands above the Ichimomochi (sic) Icimoku (sic) clouds. Support levels are at $2.22 and $2.04. Targets are $5.85.”

He also highlighted support levels at $2.22 and $2.04, with targets extending up to $5.85. Meanwhile, another analyst, Rose Premium Signals, shared a bullish trade setup for Ripple’s native asset. According to their analysis, XRP is breaking out of a descending channel and could see gains in both the short and mid-term. Their trade call suggests an entry range of $2.20-$2.40, with near-term targets at $2.60, $2.85, and $3.10. Mid-term projections point toward $3.36 and $3.87, with a stop-loss level set at $2.00.

Their analysis further reveals a series of Fibonacci levels that could influence XRP’s price movements. The Fib 0.5 serves as support, while Fib 0.618 is a key resistance to watch out for. Additionally, the Fib 1.0 acts as a strong resistance level, which could determine the strength of the bullish trend.

As the legal battle brews, speculations are running rampant. Notably, XRP’s value today was down nearly 1.8% to $2.33 while its trading volume soared 60% to $4.21 billion. Notably, this latest decline comes amid a broader crypto market slump, with BTC facing hurdles amid insider trading rumors. On the other hand, CoinGlass data showed that XRP Futures Open Interest also fell nearly 5% to $3.17 billion, reflecting the gloomy sentiment hovering in the market.