The XRP price continues to hold support above $2, which now serves as an important level for bulls. This bullish sentiment predominates the crypto market, as sellers appear to have lost their momentum. With these developments, expectations for the XRP price have escalated significantly, particularly among analysts who foresee a bright future for the altcoin, potentially reaching double-digits in this bull cycle.
XRP Price Still On Track For Mega Candle
Crypto analyst Egrag Crypto has been vocal about the bullish prospects of XRP, leveraging platforms like X (formerly Twitter) to share insights. Known for accurately predicting the XRP price increase months before the current rally, Egrag maintains his optimistic stance despite recent price stabilization at support levels. He asserts that XRP remains on a bullish trajectory and believes that hitting double-digits is still within reach.
In a recent update, the analyst detailed his belief that the XRP price is poised for upward momentum. He refers to this phase as the ‘blue ocean,’ indicating that investors are currently ‘swimming with sharks’ as XRP is being accumulated quickly, setting it up for substantial recoveries.
With positive sentiment growing, Egrag Crypto expects the XRP price to experience significant upward movement shortly. He predicts the imminent emergence of a mega green candle that could propel the price beyond the double-digit mark. Specifically, he has outlined three ambitious price targets: the first at $9.5, followed by $17, and a long-term target of $27, a figure he has consistently forecasted for over a year.
Currently, XRP is trading just above the crucial $2 support level, indicating that there is still a considerable distance to traverse before reaching the analyst’s targets. Furthermore, the anticipation of XRP Exchange-Traded Funds (ETFs) has been mentioned by many in the community as a potential factor that could trigger a price surge.
There were previous indications that the ProShares XRP ETFs would launch on April 30. However, Bloomberg’s ETF expert James Seyffart later stated that there are no plans for a launch on that date and a specific date remains undisclosed. Nevertheless, the launch of XRP ETFs is still anticipated in the short to medium term and is expected to serve as a catalyst for an increase in XRP’s price.
