XRP price on the cusp of a big rise to $1.4: Cryptocurrency analyst cryptoforbs

A new XRP price prediction from prominent cryptocurrency analyst EGRAG CRYPTO has investors confused. Based on multi-timeframe analysis, Egrag believes that XRP is showing significant strength, indicating a potential rise to $1.4. The analyst explained his forecast in a tweet, saying: “XRP color code to $1.4 – Update: Trying to showcase the absolute strength and achievements of XRP from multiple time frames: weekly, 3D, 1D, 4H.”

XRP Price Analysis: 1-Week Chart

Delving into the weekly chart, Egrag finds clear optimistic momentum. XRP is about to achieve a remarkable milestone: closing a full-bodied candle behind the 0.618 Fibonacci retracement level at $0.5119. Igraj notes that the week’s impending close and final candlestick shape will serve as a strong confirmation of this trend.

Egrag’s precise breakdown identifies vital parameters of the XRP price path in the 1-week chart. The wicking range is set between $0.3875 and $0.4719. Any downside break below $0.3875 could disrupt the broader chart setup.

Meanwhile, the range zone, where XRP can fluctuate without clear directional momentum (and which XRP is currently leaving), lies between $0.4719 and $0.5119. Crossing the $0.5119 limit on the weekly time frame would push XRP into an upward range, leading to a rise to $0.5738 – coinciding with the 50% Fibonacci retracement level.

The cryptocurrency analyst posits that a breakout of this pivotal price level could trigger a sweeping rally for XRP. Venturing beyond the 50% Fibonacci zone could lead to a scene of minimal resistance, which could allow XRP to smash its yearly peak at $0.9310. Concluding his comprehensive analysis, Egrag envisions a bold finish: a stunning 250% rally, pushing XRP towards the 1,618 Fibonacci extension at $1.4695.

Shorter time frames

Shifting focus to the 3-day chart, XRP displays a close body candle above the 0.618 Fibonacci retracement level, indicating it is in a bullish zone. However, the current candlestick shape is a neutral pyramid pattern, which leaves room for interpretation and lacks a definitive forward direction.

This particular formation, rooted in the Japanese term “bear,” represents a potential inflection point in price action. But its neutrality requires waiting for more concrete signals. Igraj confirms that the impending candle that closes today may shed light on pivotal insights.

In the one-day chart, the narrative is more assertive. XRP has successfully covered seven consecutive daily candles above the 0.618 Fib level in the green zone. This trend, as Eggrage posits, radiates a clear bullish aura. But he also advises vigilance for a possible retest of the lower border of the bullish green zone, which could consolidate this foundation.

Finally, when examining the 4-hour chart, a clear double top pattern appears. With XRP showing resistance to cross the $0.55 mark, there is a growing expectation for a potential double bottom near $0.50. This move may pave the way for an attack on the 1.618 Fibonacci area, around $0.576. The cryptocurrency analyst expects this to be a prelude to a bullish continuation.

At press time, XRP was trading at $0.52073. The 1-hour chart shows $0.5264 as a current major resistance level and $0.5197 as a major support.