Analyst Predicts XRP Price To Hit $70 Citing Technical Movements

XRP price is facing consolidation after a slight 2% dip today, but analysts remain bullish on its future. A well-known expert has projected a staggering $70 target for the token, citing technical patterns rather than mere speculation. Meanwhile, other analysts also see significant upside potential for Ripple’s native asset, with price targets ranging from $3 to over $5 in the coming months.

XRP Eyes Massive Surge, Analysts Set Bold Targets

Renowned analyst EGRAG CRYPTO has outlined a compelling case for XRP’s explosive growth. In a recent post, he suggested that XRP could reach $70, emphasizing that his forecast is based on technical cycles and mathematical models. In a recent X post, EGRAG CRYPTO stated:

“I’ve been closely analyzing the strength of Wave 1 across various crypto charts, and after reviewing multiple projects, I’ve noticed a compelling pattern in #XRP that could signal a potential cycle top.”

He explained that his projections are grounded in logic, mathematics, and technical analysis rather than speculation. His research identifies two key price points—Stick 2 and Stick 3, with the latter indicating the $70 price level.

He further broke down his analysis into five crucial steps:

• i) Studying previous market cycles.
• ii) Focusing on the ongoing cycle.
• iii) Applying percentage formulas for price movement
• iv) Assessing potential corrections.
• v) Confirming price targets using technical indicators.

Other Experts Align With Bullish Predictions

Apart from this latest bullish prediction, other experts also predicted a strong rally for the XRP price. For context, crypto expert Dark Defender echoed similar sentiments, predicting an initial move to $2.42. He believes the real rally will begin once XRP surpasses the Ichimoku cloud resistance. He stated:

“XRP is expected to move towards $2.42 first. The real momentum will start after XRP stands above the Ichimoku clouds.”

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.

Can XRP Hit $70? Here’s What To Watch

While a $70 price target seems ambitious, technical indicators suggest strong momentum for XRP. If key resistance levels are broken, the asset could enter a parabolic phase similar to previous bull cycles. Besides, despite the recent downturn, speculations soared as experts recently hinted towards a potential settlement in the Ripple Vs SEC case.

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.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.