XRP Price Could Be Heading To $27 And Dive Back To $0.80

• A popular technical analyst forecasted that XRP could be due to a $9-$27 rally, but the ensuing pullback in the bear market could hit $1.30-$0.80.
• The prediction is grounded on the market’s cyclical nature, combining insights from the 2017 and 2020 cycles with technical patterns based on the token’s current trajectory.

Egrag Crypto, a widely followed figure in the cryptocurrency community, has recently revealed some good and bad news regarding the upcoming trajectory of the XRP price. Better brace yourselves for what the token has in store for investors.

A Look Back at XRP Price Cycles

Egrag used the past two bull cycles of the XRP price to illustrate his point. These were catalyzed by events that occurred in 2017 and 2020.

Based on the market’s cyclical nature, one must first navigate a bear market before a bull market and vice versa. According to him, reviewing the last legs of the 2017 and 2020 rallies and considering the ensuing pullbacks are essential in understanding where the market could be heading.

ADVERTISEMENT## From a $27 Peak to a $0.80 Drop

Referencing the first cycle, the technical analyst reiterated his conviction that the XRP price could be primed for a jump to $27. Notably, most of his conventional and unorthodox charts have persistently yielded the same numbers as the peak target for the current bull cycle.

However, if that’s the case, the token could also emulate the same 97% in the aftermath of the cycle. The resulting drop could hit hard, bringing the numbers down to as low as $0.80.

From a $9 High to a $1.30 Low

Meanwhile, if XRP replicates the same momentum during the second cycle, its measured move based on the center of the symmetrical triangle across the monthly trend could help it build momentum to $9. From there, the crypto asset’s likely 85% correction could lead its value back to $1.30.

ADVERTISEMENT## Heeding the Cyclical Nature of the Market

Despite his strong support for XRP, the crypto personality emphasized that cycles are inevitable. He even used the cyclical nature of the universe to drive his point.

The analyst warned that the final leg of the bull cycle is “coming very soon and rapidly.” As always, what’s next to that is a bear market.

Final Thoughts

Egrag is more inclined to focus on the technical side of things, ignoring the noise created by hype and FUD (Fear, Uncertainty, Doubt). For this reason, he prefers using long-term trends for analysis to cancel out the noise.

The analyst’s readings clearly do not account for sudden fluctuations directly or indirectly resulting from regulatory, economic, social, and political events. Hence, readers should not take the facts presented here as financial advice or promotion of any asset.

On the other hand, the forecasts featured here present a wealth of information for investors preferring a more grounded approach in their strategy, rather than trading on speculation.

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