Market expert EGRAG Crypto identifies the necessary conditions that must be met before XRP can reach its ambitious double-digit target.
He announced in a recent analysis that XRP is “FAVOLOSO”. FAVOLOSO means fabolus in Italian. Despite the current consolidation, EGRAG reiterates its belief that an XRP rally to $27 is still in play. For comparison, XRP has maintained the same price range since December 20 as uncertainty permeates the broader market.
The attached chart shows XRP price action above the Break of Structure (BOS). This BOS represents an important resistance level that has remained stable at $1.96 since April 2021.
Prerequisite for XRP to $27
Interestingly, XRP broke the structure in November 2024 amidst its impressive rise after Donald Trump’s election victory. EGRAG believes that the breakout above the BOS marked the start of bullish momentum similar to what XRP experienced in 2017.
However, the analyst noted that while XRP is holding above the BOS, the 21 Exponential Moving Average (EMA) is still trending below and is currently at $0.8211. EGRAG noted that for XRP to rise towards the $27 target, the EMA must rise above the BOS and the XRP price should reach above this level.
The data from the chart shows that past patterns preceded large price increases. In 2017, XRP experienced a huge boom Rally to $3.31 shortly after the breakthrough via his BOS. EGRAG assumes that the same structure is now unfolding.
EGRAG has persistently kept XRP at the $27 target. In an analysis from August 2024, when XRP was trading at $0.56, he said forecast a rise to $27. He noted that if XRP were replicated at all…
