XRP Poised for Liftoff: $9 or Even $24 on the Horizon?

Key Insights From 21 EMA and 55 SMA According to EGRAG CRYPTO, every bullish crossover between XRP’s 21 exponential moving average (EMA) and 55 simple moving average (SMA) has triggered massive rallies. In March 2017, the crossover preceded a 40,000% surge, while the August 2020 signal delivered a 750% pump before peaking. Drawing from past cycle patterns, the analyst projects two potential targets for XRP that is a 1,500% rally, which is twice the 2020 surge, peaking at $9, or a more bullish 4,000% rally, just 10% of 2017’s explosive run, which could send XRP to $24. EGRAG CRYPTO added , “Now, in this cycle, as of October 2024, we have another promising bullish cross between the 21 EMA and 55 SMA, and so far, we’re experiencing a 560% pump.” The analyst had previously stated that XRP’s breakout to $3.65 was the Valhalla Gate Key, a critical trigger that could launch prices toward the $12–$23 range. Earlier this month, XRP soared to new historic highs of $3.65 after failing to do so for more than 7 years, marking a new chapter for the 3rd-largest cryptocurrency by market cap. Even though XRP has pulled back to the $3.12 zone ever since, a bullish picture continues to be painted for the altcoin. XRP’s Market Continues to Coil Tightly Crypto analyst Vlad Hryniv notes that after rejecting $3.50, XRP has been consolidating tightly between $3.00 and $3.20, which can be deemed a deceptive calm. XRP open Interest (OI) recently hit a record $3.9B on Binance before easing to $3.08B, reflecting massive speculative capital inflows. Such rising OI without significant price movement often signals a looming, liquidation-driven breakout. This is because the OI spike underscores heightened speculative activity around XRP, reflecting renewed trader confidence amid a range-bound price environment between $3.00 and $3.20 over the preceding days. Conclusion Analyst EGRAG CRYPTO highlights that XRP’s 21‑EMA and 55‑SMA crossover has historically triggered explosive rallies. For instance, a 40,000% surge in 2017 and a 750% run into the 2021 peak. Now, with XRP hovering at $3.10–$3.20, the same pattern has reappeared, setting up two bold upside targets that is a 1,500% rally to $9 or an even steeper 4,000% move to $24 as intensified consolidation takes center stage.

Source: Coinpaper