XRP Price Prediction: $22 Target? Analysts Weigh In
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Crypto analysts offer contrasting perspectives on XRP's price trajectory. Egrag Crypto points to a bullish candle formation on the yearly chart, suggesting a potential surge to $13 or even $22, potentially exceeding those levels. This prediction is based on the analysis of candle 13, compared to the 2021 yearly candle (candle 9), and the strong bullish engulfing pattern observed from candle 5 to candle 11. The analyst considers a close above $3.40 as confirmation of a move into double digits, while a close below $1.85 could signal the end of the bull run. December 31st is highlighted as a significant date to observe the resulting candle formations. Conversely, CasiTrades focuses on the $2.25 price level, noting its historical role as both support and resistance. A successful backtest is underway, but daily closes above $2.25 are needed to confirm a bullish pivot. The analyst considers this a high-probability buying zone, with the next major support at $1.90 if $2.25 fails. Currently, XRP trades around $2.21, down nearly 3% in 24 hours. These differing analyses highlight the volatility and uncertainty inherent in cryptocurrency price predictions, emphasizing the need for caution and thorough due diligence before making investment decisions. The varying timeframes and interpretations underscore the complexity of technical analysis and the importance of considering multiple perspectives before forming conclusions.
(Source: https://www.newsbtc.com/analysis/xrp/xrp-price-could-touch-22/)
