Expert Says XRP Is in “Consolidation,” Ready To Grow 122% To $1.4

• XRP maintains a $0.65 price range with a notable drop in 24-hour trading volume after a recent 52% gain.
• A prominent analyst predicts a parabolic rise for XRP above $1, supported by conquered trading zones.
• The analyst argued that XRP could surge to $1.4695 after breaking out of the consolidation zone.

Over the past week, XRP has remained stagnant at around $0.65, with its 24-hour volume averaging over $2 billion last week, now dropping below $1 billion. XRP appears to be relaxing at its current price range after orchestrating over 52% gains in under three weeks to $0.73 last week.

Amid XRP’s current trend, EGRAG, a renowned market analyst, has expressed conviction that XRP is preparing to engineer a parabolic rise above the psychological $1 price point. In a recent tweet, EGRAG shared XRP’s price chart, noting the digital asset has surmounted multiple identified crucial trading zones.

The trading zones that XRP has overcome, as identified on the chart, included “red flag,” “wicking,” and “ranging.” According to the analyst, XRP is now in a consolidation zone, with the next being bullish.

Notably, this latest graphic representation from the analyst was built on a previous one he shared two months ago. At the time, he projected XRP would break out of the $0.4719 ranging zone to a partial bull region between $0.5738 and $0.74 before the year ends. 

Interestingly, these forecasts have returned true as XRP traded above $0.7 on November 6. As a result, EGRAG has cemented his bullish projection by drawing a more grand bullish zone for XRP on his chart.

Based on the information on EGRAG’s XRP chart, the digital asset is poised to potentially break out of the consolidation zone to trade at $0.9310. Additionally, he marked that XRP’s next bullish offshoot would see it ultimately trading at $1.4695. Considering XRP’s current value at $0.6592, achieving this parabolic growth would represent a significant gain of approximately 122%.