XRP (XRP) Linear Regression: Time & Target Projections

Linear Regression with (-/+1) standard deviation forms a channel around the trendline, capturing about 68% of price movements.

Cryptocurrency analysis platform Egrag has recently shared an analysis on the XRP linear regression, presenting several projections for the cryptocurrency’s future price.

In a recent post, the analyst highlighted that XRP is currently trading within a range that represents the lower bound of the -1 standard deviation, indicating a possible return to the average price.

#XRP Linear Regression: Time & Target Projections:🔍 Brief: Linear Regression with (-/+1) standard deviation forms a channel around the trendline, capturing about 68% of price movements. 📉📈💡 Key Points about Linear Regression:#⃣Upper Band: Signals overbought conditions 📊… pic.twitter.com/FiiTxq8UrE

The application of linear regression in trading assists in establishing trends by plotting a moving trendline on the price. Furthermore, the technique integrates channels that contain the standard deviation of price movements, with the lower band indicating oversold conditions and the upper band indicating overbought conditions.

XRP Growth Projections

For Ripple coin, the two levels of interest are the mean reversion point at $1.85 and the first standard deviation band which could take the price to $5.76. The analyst suggests that the cryptocurrency might even reach higher levels than the upper band if it follows the same historical trend as 2017.

The projections present different scenarios of events based on the market trends. In the short term, Ripple coin is expected to move back to the mean price of $1.85. Within the next several months, this number could grow to $2.4, with $3 as a possibility within a year. In case the price breaks through the upper band, XRP may reach $5.76 in the nearest future and $7.31 within a month or two.

Egrag also presented two possible ‘outshooting’ models based on the previous price cycles. The more bearish Cycle A, which has a 180% target for the price from the lower band, estimates that token could trade for $16 and $27 within a year. Cycle B which is 110% more conservative paints a picture of a price range of between $12 and $26 over the same period.

Upcoming XRP Price Shift

Crypto WZRD also provided an analysis on XRP’s possible price trends, pointing out that XRP recently closed near the $0.55 resistance level, adding that Bitcoin and the XRP/BTC pair will be key in the direction of the cryptocurrency in the near future. WZRD advises traders to watch out for these technical indicators when looking for entry strategies.

XRP Daily Technical Outlook:$XRP closed indecisively and is now trading close to the $0.5500 Daily resistance area. Bitcoin and XRPBTC will play a major role from here. I will be tracking the intraday chart formation tomorrow to get a mature trade setup 🤔 pic.twitter.com/rT09K6Emvu

Based on the current market trends, analysts believe that XRP still has a bright future ahead of it and the Ripple community have been urged to stay put as there are strong indications of a major price shift in the market soon. If the past trends continue, then we might see some significant changes, indicating that there could be some major improvements on the way.