- XRP eyes $27 target within 60–63 days, mirroring its 2017 rally cycle, says EGRAG.
- Fibonacci extension 1.618 aligns with $27 target, echoing its 2017 surge to $3.3.
- XRP currently faces resistance at $2.10–$2.20, with key support zones at $2.020 and $1.88.
XRP has been struggling lately, mirroring the broader crypto market’s downturn. For the first time since December 2022, the altcoin recorded two straight months of losses. February was particularly brutal, as it suffered a 29.33% crash, dropping below the crucial $3 psychological level. This bearish phase has left many investors cautious, but some analysts, including EGRAG Crypto, believe a comeback is imminent.
EGRAG Crypto has been one of XRP’s most vocal supporters, consistently predicting that the digital asset could soar to $27. His latest analysis provides a timeline for when this long-anticipated price surge might happen. He suggests that it could hit the $27 mark within the next 60–63 days, drawing parallels with historical price movements.
The analyst based his prediction on XRP’s 2017 bull run, highlighting key similarities in price behavior. Back then, it first surged to $0.3988 in May before experiencing a correction. It then found support at $0.1891 in early November before consolidating for about six weeks. Shortly after, it exploded into a three-week rally, reaching its all-time high of $3.8 in January 2018.
Historical Cycle Signals XRP Rally
EGRAG believes this historical pattern could repeat itself. Since XRP recently hit a low of $2, he speculates that a similar 63-day cycle will unfold, potentially pushing the token to $27 by June 2025. The logic behind this prediction stems from Fibonacci extensions, a popular technical analysis tool.
According to EGRAG Crypto, the cryptocurrency’s ultimate price target is its 1.618 Fibonacci extension, which aligns with the $27 mark. The same metric played a crucial role in the 2017 rally, when XRP surged to $3.3. If history repeats itself, then a major rally might be just around the corner.
However, the road ahead isn’t smooth. The cryptocurrency is currently facing stiff resistance at the $2.20 level, struggling to gain enough momentum for a sustained breakout. The altcoin briefly climbed above $2.09 but has since been unable to hold above key resistance zones, leading to another retracement.
XRP’s Current Market Struggles
At the time of writing, XRP is attempting to recover from a recent decline. It recently formed a low at $2.023 before bouncing back to above $2.050. The price also reclaimed the 23.6% Fibonacci retracement level from its previous drop between $2.215 and $2.023.
Despite the recovery attempts, XRP remains below $2.120, indicating that downward pressure is still strong. If the token manages to break above $2.150, the next resistance levels to watch would be $2.1680, followed by $2.20. A strong push past these levels could propel it toward $2.25 and even higher.
On the flip side, if it fails to break through $2.120, another downward move could be in store. Immediate support lies at $2.050, followed by $2.020. A decisive break below the $2.020 mark could trigger further declines, pushing the cryptocurrency toward the $2.00 or even $1.88 support zone.
The hourly MACD is losing pace in the bearish zone, while the RSI is hovering around the neutral 50 level. These signals suggest that while the market is not overly bearish, but it also lacks strong bullish momentum.
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