- Top market analyst Egrag Crypto is convinced XRP can hit the $17 mark.
- Other market analysts are also hyped about the price of the top coin.
XRP, the cryptocurrency associated with Ripple Labs, is among the top performers in the ongoing market cycle. The coin has crossed crucial levels, particularly the $2 mark. Now, market participants are watching how high XRP will climb in May 2025.
What to Expect for XRP in May 2025
According to MarketCap data, the price of XRP was $2.19, up 1.7% over the past 24 hours. On the weekly chart, the price of XRP increased by 5.37%.
In his latest analysis, a crypto analyst popularly known as EGRAG Crypto on X shared his view on XRP’s potential price. On the upside, the analyst predicted that XRP could hit $17, citing technical bullish formations.
EGRAG Crypto pointed out that XRP is set for an ‘Ascending Broadening Wedge’ pattern, usually considered a price reversal signal. He noted that XRP must close above the $3.5 mark as it pushes towards the potential $17. From here, EGRAG said XRP could hit the $5 range, increasing the chance of forming the Ascending Broadening Wedge.
If XRP faces rejection at $5, it must retest $1.90 to continue its upside. In an ideal scenario, EGRAG claims XRP could close above $6. If this happens, he expects XRP to see double-digit gains within 2 to 3 weeks. According to EGRAG, the target move for this Ascending Broadening Wedge is a potential $17.50.
However, he predicted only a 30% chance for an upside breakout and a 70% probability 70 to the downside. He said XRP could plummet to $0.65 if the downside occurs.
In another bullish analysis, Egrag Crypto predicted that XRP could hit triple digits, eyeing the $120 price mark in three years. He highlighted that the market mirrors the 2017 cycle, but the timing may be delayed or accelerated.
More Bullish XRP Predictions
It is essential to mention that EGRAG is just one of several others predicting bullish outcomes for XRP. The XRP predictions range from high to mild prices.
In a previous article, we discussed crypto analyst BarriC’s prediction that XRP could hit $1,000. The analyst’s forecast is based on the potential approval of the XRP Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission (SEC).
Another forecast has targeted XRP at $3, as noted in our earlier post. This prediction is based on positive technical indicators. For instance, the Moving Average Convergence Divergence (MACD) indicator shows a buy signal for XRP.
While Egrag Crypto and BarriC have made bold XRP forecasts, technical platforms like CoinCodex have delivered a mild target. According to CoinCodex, XRP could hit the $2.23 price in October. The platform highlighted that the current sentiment is bullish, while the Fear & Greed Index shows 63 (greed).
XRP has left no stone unturned in establishing its credibility as a leading digital asset. The cryptocurrency recently clinched a new milestone: joining Mercoin’s trading platform.
