XRP Price To Rally To $4 After Breakout Above $1

Crypto analyst Egrag Crypto has provided insights into how high the XRP price could rise following its rally above $1.

Crypto analyst Egrag Crypto has shared his thoughts on XRP’s price following the coin’s rally above $1. XRP’s rise above $1 marks a two-year high for the crypto, which had earlier remained stagnant despite the broader crypto market making significant gains.

XRP Price To Hit $4 After Breakout Above $1 In an X post, Egrag Crypto stated that XRP’s price could rally to as high as $4.96 following the breakout above $1. This came as he analyzed XRP’s market cap and explained how it could reach $1.83 trillion. He noted that the market cap is closing above Fib 0.07 ($51.35 billion) and has reached Fib 0.786 ($60.06 billion).

The analyst also revealed that XRP is breaking through a multi-year ascending trendline that dates back to 2017. He added that this is super bullish for the crypto. Egrag Crypto stated that a monthly candle close above the Fib 0.786 would lead to a confirmed market cap of $283.42 billion (Fib 1.618), which would be next for the XRP price. A market cap of $283.42 billion would put XRP at $4.96.

In the short term, Egrag Crypto said that the goal for this week is for XRP to close the partial weekly candle above $1.10. His accompanying chart showed that a close above this candle could further confirm the rally to $4.96 and even higher.

Amid this price prediction, it is interesting to note that XRP whales are actively accumulating the coin, which presents a bullish outlook since these whales could also contribute to a sustained price rally. These XRP whales have bought over 320 million XRP in the last 72 hours.

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