Egrag Crypto Sees $6.40 as Next Bull Market Target for XRP

An anonymous cryptocurrency analyst known as Egrag Crypto has set a target of $6.40 for XRP's price in the next bull market, representing a potential 503.77% upside from its current trading price of $1.06.

XRP's price is currently retesting a monthly support level and has formed a multi-year symmetrical triangle, according to Egrag Crypto's analysis on TradingView.

The analyst suggests that XRP may drop below $1 to its support level around $0.88 if the upper border of the triangle fails to hold, but notes that reclaiming the liquidity zone near $1.23 would trigger a rally to $1.65 and eventually towards the resistance level around $3.00 and $3.50.

For XRP to hit its major target of $6.40, Egrag Crypto predicts that the token's price must consistently stay above its all-time high (ATH) with the 21-month exponential moving average (EMA) as support, paving the way for a potential rise towards $30 in case of a strong parabolic gain.