- XRP’s technical analysis points to a potential $50 price target by early 2025.
- Analysts highlight bullish momentum supported by RSI and EMA trends in XRP price charts.
- XRP’s bi-annual and quarterly trends suggest sustained growth and low reversal risk.
XRP’s price could explode soon is what technical analysis from EGRAG CRYPTO shows. The analyst explains how the next 10 days are decisive for its future and that it might reach $50 by early 2025.
The chart patterns, from yearly to bi-monthly candles, suggest the next phase of price action could be explosive, with massive growth in the coming months.
Yearly Candle: A Key Price Level to Watch
The 12-month candle helps people understand XRP’s long-term trend. If XRP closes above $1.99, that would be a significant milestone. This level is the body closure of the 2017 yearly candle.
A close above this price would be historic and would signal that XRP is in a new phase. This move has substantial implications, especially when you consider the potential for increased demand and higher price elasticity.
Price Elasticity and Demand Absorption
Demand dynamics influence XRP’s price behavior. When the price increases, demand often stays inelastic, which means buyers keep buying despite the higher cost. FOMO (fear of missing out) and investor expectations of further price increases drive this.
But as the price goes up, some buyers may hesitate, and demand can become more elastic. Rising utility, increased institutional involvement, and ETFs can help keep demand up even at higher price levels.
Bi-Annual and Quarterly Analysis: Strengthening Momentum
The 6-month (bi-annual) and 3-month (quarterly) candles give valuable insight into XRP’s momentum. The bi-annual chart shows a steadier trend than the volatile 2017 cycle.
XRP’s growth seems more stable, which suggests lower risk and sustainable price appreciation. The Exponential Moving Average (EMA) also reflects a strong trend. A 30-degree angle on the EMA shows controlled, consistent growth, which makes sudden reversals less likely.
Also, the quarterly RSI shows bullish signs. XRP is already over the 70-mark, which often shows strong upward momentum. The RSI could grow to 87 and 96. XRP’s upward movement could continue and cause a substantial price surge in the next few months.
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Bi-Monthly Chart: A Bullish Outlook
XRP is above equilibrium on the 2-month chart; a position it last held before a massive 13x surge. This could lead to another rally for XRP, with price targets of $13 that are increasingly attainable.
XRP is trading at $2.16 as of press time. The market is becoming more competitive, so investors should watch these levels. But if it has the right momentum, XRP could reach $50 in early January 2025.
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