Renowned cryptocurrency analyst “Egrag Crypto” turned to X (formerly Twitter) to present three critical ones XRP price targets in this bull cycle. Despite the continued stagnation of the XRP price, the analyst predicts a significant augment in the prices of this popular cryptocurrency, reaching up to 4,800%.

Major Resistance and Support Targets for XRP

October 17 Egrag Crypto common three main goals for XRP price based on the B channel, a distinctive boundary that XRP has been trying tough to cross for years. On a monthly time horizon, XRP faces three major resistance targets and three support signs.

XRP price action in Channel B is circumscribed by key resistance levels this may determine whether the cryptocurrency will be able to break free from long-term politics consolidation cycle. According to the analyst’s XRP price chart, the first major resistance level is seen around the price of $0.6450. Over the past few months, XRP has surged above $0.6, fueling hopes for potential breakout but eventually dropped back to $0.50.

A significant break from $0.6450 could signal potential upside momentum, but would still remain within Channel B. The second price target, $0.85, is a key target that has also been arduous for the XRP price to maintain over the years. It also represents the average range of the entire XRP B channel.

Finally, at the upper end of Channel B and highlighting the most significant resistance level, lies the $1.1 threshold. A sustained break of this critical resistance could mean that XRP can finally escape Channel B and climb to modern levels.

Additionally, supporting these key resistance levels are three main support levels. The first line of defense if XRP fails to reach $0.645 is the support level at $0.48. If the cryptocurrency also falls below $0.85, the next support could be seen at $0.38. Finally, if XRP fails to break the resistance at $1.1, it could find support near modern lows at $0.28.

Bullish XRP Price Targets

While highlighting key resistance and support levels for XRP, Egrag Crypto also highlighted three bullish price targets for XRP if it manages to successfully close the monthly candle in Channel B. The first major breakout target sees XRP potentially skyrocketing to $7.50 at the 1.236 Fibonacci retracement level.

The next major target of the cycle is the Fibonacci retracement level at 1.414, with the XRP price likely to rise to $13 and all-time explosive highs. According to Egrag Crypto, the final target of the cycle is the Fibonacci retracement level at 1.618. If XRP can reach this level, its price could skyrocket to $27, marking a monumental rise for the cryptocurrency and potentially positioning it among the best-performing digital assets in the market.

It should be noted that these predictions are speculative as CoinMarketCap reports that the price of XRP is still at $0.54 at the time of writing.

Featured photo from CPO magazine, chart from TradingView