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Market experts attribute these optimistic projections to strong technical patterns and favorable legal developments despite recent price fluctuations.

Renowned crypto analyst Egrag Crypto has identified a key bullish indicator on XRP’s chart—an Inverse Head and Shoulders (H&S) pattern. According to Egrag, this formation could propel XRP to $4.60, provided the price maintains crucial support levels. “The pattern remains valid until April 20, 2025, making the coming weeks pivotal for XRP’s trajectory,” he noted.

The newly formed head and shoulder pattern could propel the XRP price to $4.60. Source: EGRAG CRYPTO via X

For XRP to sustain its bullish momentum, it must hold support at $2 and reclaim $2.65 as a stable level. If achieved, the next resistance point stands at $3, with a successful breakout potentially driving the price toward the $3.73–$3.90 range. Should bullish momentum persist, the ultimate target of $4.60 may come within reach. However, Egrag cautioned that such a move could trigger a distribution phase, where major holders sell off their assets, potentially leading to a price correction.

XRP is targeting $27 in the long run, with a breakout from a ‘W’ formation and a month of parabolic price movements ahead. Source: EGRAG CRYPTO via X

As XRP continues to garner attention, investors are closely watching key technical levels and market developments that could dictate its next major move.

While the majority of analysts believe XRP is going to trend upwards, Peter Brandt, a veteran trader, warned of a possible drop. He identified a traditional Head and Shoulders pattern on the XRP daily chart that would see it drop to $1.07 if key support levels are broken.

XRP’s chart shows a complex H&S top, potentially bullish above $3.00, but it could decline to $1.07 if it fails. Source: Peter Brandt via X

Brandt said a drop below $1.90 would validate the bearish scenario, while a breakout above $3 would render it invalid. As XRP’s price currently oscillates between $2.10, traders are on the lookout for both bullish and bearish scenarios.

Other market experts remain strongly bullish on XRP’s long-term potential. Crypto analyst Javon Marks has forecasted a 570% price surge, projecting a target of $16 if historical market cycles repeat. He pointed to the Relative Strength Index (RSI) breakout as a key indicator supporting this prediction. “If XRP mirrors its previous bull cycle, we could see exponential growth,” Marks noted.

XRP is in Wave 4 of its monthly Elliott Wave structure, nearing completion before resuming its upward targets. Source: Dark Defender via X

Adding to this optimism, Dark Defender has mapped out a multi-wave rally that could take XRP to $5.85–$8.07 in the coming months, with a long-term projection of $23.20. He emphasized that XRP’s price remains in an uptrend on higher timeframes, reinforcing the case for further gains.

XRP’s recent legal clarity following Ripple’s settlement with the SEC has significantly improved market sentiment. The resolution of the XRP lawsuit has removed a major regulatory hurdle, potentially opening the doors for greater institutional adoption.

Ripple (XRP) was trading at around $2.18, up 2.52% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

“The legal uncertainty surrounding XRP has held back its true value for years,” noted a market analyst. “Now, with the SEC lawsuit behind it, XRP is better positioned to compete with Bitcoin and Ethereum.”

Ripple’s ongoing partnerships, including collaborations with major financial institutions like Bank of America, further bolster the asset’s long-term potential. The increasing use of Ripple’s blockchain technology in cross-border payments could add to XRP’s utility and demand.

In the future, analysts project 2025 to be a year of breakthrough for XRP. Analysts predict that the persistent uptrend might push prices to $7, with spikes higher above this value depending on market direction.

Egrag Crypto and other experts opine that the price path of XRP reflects past market trends, which renders a major rally more and more probable. Nevertheless, investors must be wary of probable corrections, especially with the polarized sentiments on XRP’s near-term price action.

Since the XRP price is at a tipping point, the next couple of weeks will be revealing if the asset starts its large-scale rally or experiences a short-term dip prior to returning to its uptrend once again.

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