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Key Insights:
- XRP price could hit $110 in the next bull cycle.
- On-chain data signals substantial accumulation amid market consolidation.
- Analysts eye $4 and $5 targets before a major breakout.
Crypto analyst Egrag Crypto has issued an ultra-bullish prediction for the Ripple (XRP) price. The analyst stated it could reach triple digits in the next market cycle.
According to the analyst, XRP could rally to $110. Bullish technical formations and market trends could drive this.
XRP Price Eyes $110 in the Next Bull Cycle
In a recent X post, Egrag Crypto suggested that XRP price could surge past $100. A developing cup pattern on the charts supported his prediction. He noted that the breakout from this formation has already been confirmed, setting the stage for a major price rally.
The analyst projected a peak of $13 for XRP in this cycle. He has expectations that the token would hit $110 in the following bull market.
He also provided critical levels for traders, indicating that a close above $2.85 would be highly bullisha drop below $2.30 would indicate bearish pressure.
Adding to the bullish sentiment, fellow analyst Mikybull Crypto has predicted that XRP could hit $4 in the short term, potentially marking a new all-time high. His analysis suggested that the breakout could occur this month, reinforcing expectations of a strong upside move.
$4 first, then $5? Analysts debate XRP’s next move
Other analysts have weighed in on XRP’s price trajectory, with some predicting a rally toward $4 before higher targets come into play. Crypto strategist Mikybull Crypto believes that XRP could hit $4 this month, marking a new all-time high before extending its rally toward $5.5.
Dark Defender, another crypto analyst, has also projected a breakout past $5, citing XRP’s relative strength index (RSI) as a key indicator. He explained that XRP is finalizing its consolidation and preparing for Wave 3, which could drive prices to $5.85 and $8.76 in the short term. The analyst previously predicted that XRP must hold above $3 to confirm its bullish structure, with key support levels at $1.88 and $2.33.
Market sentiment remains mixed, with some traders adopting a cautious stance amid XRP’s consolidation phase. Analyst CasiTrades noted that XRP is currently at a decision point, hovering near key Fibonacci retracement levels between $1.92 and $1.88. She suggested that a break above $2.92 could trigger a wave C rally, while a breakdown could expose XRP to $1.53 as a support level.
XRP on-chain data signals strong accumulation
While analysts debate XRP’s price trajectory, on-chain data suggests that investors are accumulating the token following the Feb. 3 crypto market crash. Data from Santiment reveals that XRP’s Mean Coin Age has been rising, indicating that long-term holders are increasing their positions. Historically, a rising Mean Coin Age correlates with price rallies as supply tightens.
Another key metric, the 30-day Market Value to Realized Value (MVRV) ratio, has also flashed a buy signal, reaching -17% last week. This level has previously preceded 60% rallies in XRP, fueling optimism that history could repeat itself.
However, the derivatives market tells a different story. XRP’s open interest has declined over 30%, from 2.05 billion XRP to 1.42 billion XRP, suggesting that leveraged traders are exiting their positions. Meanwhile, funding rates have turned negative multiple times, indicating a lack of bullish conviction among derivatives traders.
Grayscale’s XRP ETF filing gains traction
Beyond technical and on-chain metrics, regulatory developments could also impact XRP price action. On Tuesday, the U.S. Securities and Exchange Commission (SEC) acknowledged Grayscale’s XRP ETF filing, adding momentum to speculation about a potential exchange-traded fund approval. Bloomberg analysts Eric Balchunas and James Seyffart have assigned a 65% chance of approval, fueling further optimism within the XRP community.
A spot XRP ETF could introduce fresh institutional demand, driving prices higher in the long term. However, XRP still faces regulatory uncertainty, as the Ripple vs. SEC lawsuit remains a crucial overhang for the asset’s price performance.
Will XRP hit $110? The final verdict
XRP price is at a critical juncture, with bullish technical patterns pointing to potential price surges. While analysts such as Egrag Crypto and Dark Defender foresee triple-digit prices, XRP must first clear major resistance levels at $2.85, $3.11, and $4 before eyeing a sustained rally.
On-chain data supports long-term accumulation, but XRP’s derivatives market weakness raises concerns about immediate upside momentum. Meanwhile, the Grayscale XRP ETF filing could play a decisive role in determining whether XRP achieves new highs in the coming months.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
