- Top crypto analyst spots XRP bull flag, eyes price targets of $5.50 (linear) up to $18-$21.60.
- Ripple pushes for legal clarity, arguing XRP is not a security, citing Judge Torres ruling.
- XRP technicals: watch $2.55 breakout (Upper Bollinger Band); RSI ~47 allows for upside.
XRP is back on traders’ radar, with its chart showing a strong bull flag that could signal a major breakout, according to top crypto analyst Egrag Crypto. He’s eyeing price targets as high as $18 for XRP, based on this classic bullish continuation pattern.
According to Egrag Crypto, XRP’s bull flag–a historically bullish continuation pattern–projects the following outcomes:
- Logarithmic approach: ~$18
- Linear (Non-Logarithmic) approach: ~$5.50
- Average target: ~$11.75
Accounting for typical crypto volatility and liquidity dynamics, the analyst suggests applying a 15–20% variability, pushing extended bullish targets to as high as $21.60 in the most optimistic case.
Related: Ripple CTO David Schwartz on XRP: User Outcomes More Key Than Strict Decentralization Purity
Ripple Pushes for Congress-Led Rules & Safe Harbor
In response to SEC Commissioner Hester Peirce’s recent “New Paradigm” speech, Ripple has published a new letter, via Chief Legal Officer Stuart Alderoty, stating that XRP and most crypto tokens are not securities.
Key arguments from Ripple include:
- Legal precedent from the 2023 Judge Torres ruling, which stated XRP sales on exchanges are not securities.
- Criticism of vague SEC metrics like “sufficient decentralization” and “fully functional” as unclear and impractical.
- A push for Congress-led regulation and the introduction of a “safe harbor” rule to support innovation in early-stage crypto projects.
Ripple’s letter advocates for using network maturity–not decentralization–as a benchmark for regulatory status. The company’s stance is resonating with many in the crypto space, potentially setting a precedent that could lift market confidence around XRP.
XRP Price Below 20-Day SMA; $2.22 Support, $2.55 Resistance Key for Bull Flag
Based on the daily chart below, XRP is currently trading below the Bollinger midline (20-day SMA), suggesting minor bearish pressure in the short term. However, the price is near the lower Bollinger Band, which often acts as a dynamic support zone.
Meanwhile, the Relative Strength Index (RSI) is around 47, reflecting a neutral-to-weak momentum, leaving room for upside if buying pressure returns.
Related: XRP Price Action: Holds $2.30 Support, Bulls Eye $3.10 Target on Breakout Above $2.65 Resistance
A breakout above $2.55 (Upper BB) could open a run to $3 and if the bull flag confirms, medium-term targets include $5.50, $11.75, and even $18–21.60 based on Egrag Crypto’s projections. However, a breakdown below $2.22 (Lower BB) may lead to retest of psychological support at $2.00 and $1.75.
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