The post XRP Price Surges 30% in a Week, Experts Predict $1 Target appeared first on Coinpedia Fintech News
XRP is making remarkable progress, with its price surging by an impressive 30% in just one week. This digital coin has reached its highest point in three months, reaching $0.68.
Notably, XRP’s trading volume in the past 24 hours has skyrocketed to $2.55 billion, marking a significant 169.41% increase compared to the previous day. With XRP now standing firmly at $0.6863, seasoned market experts are offering insights into where XRP may be heading in the coming weeks.
Here’s a closer look at the details.
EGRAG’s Optimistic Prediction
EGRAG, a well-known chart analyst, recently shared an optimistic prediction for XRP’s price on the X platform. He confidently stated that XRP’s next target is above the $1 mark.
#XRP Short Term Analysis-Daily TF (UPDATE):
Check out the September 4th, 2023 post on @egragcrypto to see how the DTL ‘A’ (Descending Trend Line) is acting as a strong resistance level! https://t.co/yVUUEG55AN
A) DTL ‘A’ (Descending Trend Line) is a key indicator,… pic.twitter.com/MWkBjXJovY
— EGRAG CRYPTO (@egragcrypto) September 15, 2023
Meanwhile, EGRAG’s prediction aligns with his previous successful forecast, where he correctly predicted that XRP would surpass the $0.65 milestone. Perhaps his earlier prediction was based on his observation of a ‘W’ pattern on the charts when XRP was trading at $0.54.
This pattern often indicates an upcoming change in direction with solid momentum. As a result, he foresaw XRP reaching $0.65 within the next month, a prediction that has now come true.
Also Read: XRP Outshines Bitcoin and Ethereum, Price Hits $0.68
The Berlin Wall of Crypto!
Additionally, EGRAG compared the challenges XRP faced at its resistance level to the historic Berlin Wall. He argued that this resistance was on the brink of collapse, setting his sights on a potential price surge for XRP, targeting a range between $1.10 and $1.40.
EGRAG firmly believes that the next significant milestone for XRP is breaking through what he previously referred to as the “Berlin Wall” of resistance. A successful breakthrough would propel XRP into the $1.10 to $1.40 range.
EGRAG anticipates a retest of the range between $0.55 and $0.58 before XRP embarks on its journey above $1. This retest, followed by a rebound, would confirm the price range between $1.10 and $1.40.
Support Flows In
Prominent analyst Dark Defender shares a similar sentiment. He predicts that XRP will climb from $0.55 to $0.66, with potential support around $0.52. His forecast includes higher price targets of $1.88 and $5.85.
Is An IPO Coming Soon?
Wall Street expert Linda Jones speculates that Ripple’s stock price could surpass $600 post-IPO, which might, in turn, boost XRP’s market value. If Ripple’s stock price crosses $600, the prospect of XRP reaching double digits becomes more tangible.
Read More: Ripple Is Headed for an IPO: 3 Hints That Prove It
While concerns and differing opinions about how a Ripple IPO might affect XRP, many XRP supporters view it as a pivotal step in promoting XRP adoption and driving its price.
