Top Market Analyst Predicts XRP Surging by 1,066% to $5.89 Due to Strategic Actions

Prominent analyst EGRAG believes that a calculated move could be driving XRP to $5.89 much sooner than the community realizes.
EGRAG voiced this view in a recent post on X in line with his continuous updates about XRP’s outlook for the season. He first identified an ascending trendline on
XRP’s historical chart
, denoted the “ATLAS LINE,” which he noted has held true since March 2020.
The ATLAS LINE notably intersects with the lowest price points of XRP over the past four years. Remarkably, each intersection has often been followed by a significant bullish run for XRP. EGRAG’s analysis points to nine such occurrences since March 2020.
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A prime example was January 4, 2021, when XRP crashed to $0.226 after a bull frenzy that had taken the asset to $0.6922 two months earlier. However, the fall was followed by a more enduring uptrend that propelled
XRP to $1.96 by April 2021
. Other instances of this occurrence are denoted by yellow circles in EGRAG’s chart.
Emphatically, the nine yellow circles that EGRAG identified form an ascending parallel pattern. This pattern aligns with a descending parallel that EGRAG called the “final wake-up line.” Together, these two parallels form a large triangular configuration on XRP’s chart, which EGRAG has shaded in blue.
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XRP Calculated Move to $5.89
According to the analyst, the breakout from the blue triangle’s measured move could
drive XRP’s price
to $5.89. Interestingly, EGRAG
arrived
at the $5.89 price target for XRP by measuring the width of the triangle formed by the intersecting ATLAS and “final wake-up” lines.
Specifically, the analyst’s assumption is that the breakout from the triangle pattern will mirror the initial width of the formation. With XRP currently trading at $0.505, the analyst is signaling the possibility of a 1,066% increase in value soon.
XRP Must Reclaim $1.5 First
Meanwhile, EGRAG’s analysis accounted for more updated XRP price patterns, which have formed a smaller triangle illustrated in white on his chart. He contends that if XRP were to break out to the upside from this smaller triangle, the measured move target would be $1.5.
According to EGRAG, this
$1.5 price point could signal
the start of a significant macro breakout for XRP. Essentially, the analyst urges the XRP Army to be ready for a “mini pump” that takes XRP to $1.5. On the other hand, the more substantial surge could see XRP reach $5.89.
Besides, EGRAG proposed that the larger macro trend for XRP could even push the asset’s value
into the double-digit range.
Community Members in Doubt
While top market watchers like EGRAG have
remained confident in XRP’s potential
, community members are increasingly
losing faith
in the optimism. This doubt is largely because, in recent times, XRP has
barely proved
its potential for market-wide commendable performance beyond its six-year-old history.
Some community members have
suggested
that XRP should aim to reach a more immediate and modest price target of $0.589 before setting its sights on the much loftier goal of $5.89.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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