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A top market analyst has shared his three to six-month $XRP price outlook, further urging calm among holders even as price consolidates.
$XRP has dropped below $2 after weeks of consolidating around the price mark. This comes amid a broader market trend, which has pushed the total crypto market cap down to $3.13 trillion.
Highly Probable that $XRP Rallies
However, market analyst EGRAG Crypto has remained consistent with his bullish predictions for $XRP. He shared this in a social media post over the weekend. According to him, there is a high probability that a bullish scenario will play out for $XRP from here.
Backing his unwavering bullish bias is the perception that the current pullback is a normal phase after an impulsive rally. As a result, it was barely a “digestion” rather than a market-top signal, as many suggest.
The analyst identified a momentum shift in $XRP price when it broke out of a multi-year base to a swing high. The asset broke out from around $0.50 in November 2024, reaching its January peak of $3.39. It further made another high of $3.67 in July before shifting from accumulation to distribution.
$XRP Analysis">
EGRAG stressed that the current trend was a pause rather than a top, as the market consolidates after an impulsive move. Moreover, the structure remains bullish, further fueling confidence in $XRP’s bullishness.
$XRP Still Above Crucial Indicator
Specifically, $XRP remains above the 21-month exponential moving average (EMA) at $1.90, a sign that bullish prospects remain intact. While it has broken the 9 EMA, currently at $2.29, to enter a bearish phase, its trend above the 21 EMA suggests $XRP could still rebound from here.
Furthermore, EGRAG highlighted that $XRP has typically consolidated for months before its next leg up, so this decline should not be new to holders. Hence, he stated that a recovery remains on the cards unless a sustained close below $1.80-$1.60 flips things bearish.
Three to Six-Month Target
EGRAG also shared his outlook for the next three to six months, projecting an upward trajectory for $XRP. He noted that the coin was more likely to go northwards than correct further, implying a hold above the 21 EMA and rebound from here.
Meanwhile, the chart shows that $XRP could reach a new all-time high of $9.5, with volatility along the way. From the current market price, this culminates in a 377% increase.
Notably, this has been one of his long-standing targets for $XRP. A recent post shows that the coin would rally to $9.60 or $33.