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A top market analyst has shared his three to six-month XRP price outlook, further urging calm among holders even as price consolidates.
XRP has dropped below $2 after weeks of consolidating around the price mark. This comes amid a broader market trend, which has pushed the total crypto market cap down to $3.13 trillion.
Highly Probable that XRP Rallies
However, market analyst EGRAG Crypto has remained consistent with his bullish predictions for XRP. He shared this in a social media post over the weekend. According to him, there is a high probability that a bullish scenario will play out for XRP from here.
Backing his unwavering bullish bias is the perception that the current pullback is a normal phase after an impulsive rally. As a result, it was barely a “digestion” rather than a market-top signal, as many suggest.
The analyst identified a momentum shift in XRP price when it broke out of a multi-year base to a swing high. The asset broke out from around $0.50 in November 2024, reaching its January peak of $3.39. It further made another high of $3.67 in July before shifting from accumulation to distribution.
EGRAG stressed that the current trend was a pause rather than a top, as the market consolidates after an impulsive move. Moreover, the structure remains bullish, further fueling confidence in XRP’s bullishness.
XRP Still Above Crucial Indicator
Specifically, XRP remains above the 21-month exponential moving average (EMA) at $1.90, a sign that bullish prospects remain intact. While it has broken the 9 EMA, currently at $2.29, to enter a bearish phase, its trend above the 21 EMA suggests XRP could still rebound from here.
Furthermore, EGRAG highlighted that XRP has typically consolidated for months before its next leg up, so this decline should not be new to holders. Hence, he stated that a recovery remains on the cards unless a sustained close below $1.80-$1.60 flips things bearish.
Three to Six-Month Target
EGRAG also shared his outlook for the next three to six months, projecting an upward trajectory for XRP. He noted that the coin was more likely to go northwards than correct further, implying a hold above the 21 EMA and rebound from here.
Meanwhile, the chart shows that XRP could reach a new all-time high of $9.5, with volatility along the way. From the current market price, this culminates in a 377% increase.
Notably, this has been one of his long-standing targets for XRP. A recent post shows that the coin would rally to $9.60 or $33.