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 <p>Despite the ongoing crypto market turmoil that has sent <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> XRP down in recent weeks, one analyst is standing by his ultra-bullish forecast that the token could surge to $2.80 after bottoming out.</p>
 <p>EGRAG, a pseudonymous chartist known for his extensive technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of crypto assets, published an update this week affirming his call for a massive XRP rally. He expects the token to explode by over 500% to hit initial targets around $2.80.</p>
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    <p lang="en" dir="ltr">#XRP 500% First Move 🚀🚀🚀🚀🚀🚀🚀🚀:<br><br>Check the inverted chart from December 15th, 2023.<br><br>Remember #XRP enjoys toying with everyone's emotions before a mega pump. <br><br>But that 500% surge? That's just the start. <br>The chart below captures just a fraction of the massive surge that I… https://t.co/vIrpZIi70x pic.twitter.com/VaZ8UzGK75</p>
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    </div> — EGRAG CRYPTO (@egragcrypto) January 6, 2024
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 <p><strong>Also read: Cryptocurrency: 2 Coins Under $1 With Strong Growth Potential</strong></p>
 <h2 class="wp-block-heading" id="h-ripple-s-support-trendline-holds-despite-tests">Ripple’s Support Trendline Holds Despite Tests</h2>
 <p>The chart highlighted a support trendline <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> XRP has repeatedly bounced off of during corrections going back years. Each test of support has represented higher lows as bulls buy up the dips.</p>
 <p>In late December, EGRAG forecasted one more drop to retest support before an extended XRP surge. That has since played out this month, with the token bottoming under $0.50 amid broad crypto selling pressure.</p>
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 <p>The latest dip makes it four times that XRP has bounced off the trendline since 2020. EGRAG points to a similar four-touch pattern from June 2014 to December 2017 that preceded an epic rally in 2018.</p>
 <p>XRP eventually peaked at all-time highs around $3.30 at the start of that year. EGRAG believes even higher levels are in store this cycle after the token bottoms and leaves the trendline support behind for good.</p>
 <p><strong>Also read: Gold Price Drops Below $2050, How Will Price Perform In 2024?</strong></p>
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 <h2 class="wp-block-heading" id="h-will-xrp-hit-2-8"><strong>Will XRP hit $2.8?</strong></h2>
 <p>Though upside targets are hard to pin down in the volatile crypto space, EGRAG is looking for an initial 500% XRP surge to the $2.80 area off current levels around $0.56.</p>
 <p>However, the analyst says that would only mark the start of a much more significant rally. Further out, he expects XRP to challenge and exceed its former peak above $3.30.</p>
 <p>Yet EGRAG is playing the long game with his ultra-bullish XRP outlook. Once selling pressure finally relents, he believes holders will be rewarded for their patience with substantial upside. For now, it remains a waiting game while broader market factors dictate short-term price action.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>Ripple</li>
  <li>ripple xrp</li>
  <li>xrp</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-analyst-expects-xrp-to-hit-2-8-if-this-happens-tbt77047.html">https://thebittimes.com/ripple-analyst-expects-xrp-to-hit-2-8-if-this-happens-tbt77047.html</a></p>

Ripple: Analyst Expects XRP To Hit $2.8 If This Happens

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