Crypto analyst Egrag Crypto is back with another optimistic forecast for XRP. This time, he’s drawing on past market behavior to suggest the altcoin could surge to a new all-time high (ATH) within the next 90 to 120 days.

Why The XRP Price Can Hit ATH In 90 To 120 Days

Egrag Crypto took to X to share his latest thoughts, pointing to historical patterns to support his prediction that XRP could reach a new ATH within 90 to 120 days. He highlighted that the RSI chart reveals key historical trends, noting that XRP typically experiences two peaks during its bull market cycles.

Digging deeper into the historical data, the crypto analyst pointed out that in 2021, the second price peak happened around 90 days, and in 2017, it took about 120 days. Drawing from these observations, Egrag Crypto suggests this historical timeframe could present a “great opportunity” for market participants, subtly indicating his expectation of a new ATH for XRP.

In another recent post, he even floated the idea of XRP hitting a new ATH of $3.9 as early as May. This projection is based on his analysis of an Inverse Head and Shoulders pattern he spotted forming on XRP charts. According to Egrag Crypto, the pattern suggests a potential price movement to the $3.7 to $3.9 range.

Currently, XRP appears to be facing some resistance around $2.15, possibly influenced by regulatory uncertainties surrounding SEC Chair nominee Paul Atkins. In his latest update on the Inverse Head and Shoulders pattern, Egrag Crypto mentioned that overcoming the $2.24 level, specifically the Fib 0.888 mark, is the next short-term goal. He reassured followers that the pattern is still developing as expected.

Ripple’s Native Token Could Still Drop Below $2

Not all analysts are predicting immediate gains, however. Crypto analyst Dark Defender suggests XRP’s price might first dip below $2 before its next significant upward move. Sharing his analysis on X, he explained that Ripple’s native token appears to be in the 4th Wave of a Monthly Elliott Wave pattern.

According to Dark Defender’s chart analysis, this Wave 4 correction could potentially push XRP down to around $1.88. However, he anticipates that once this phase concludes, XRP is poised for a substantial rally, potentially reaching as high as $5.8, which would constitute a new ATH.

Dark Defender expressed confidence that the Wave 4 correction is nearing its end, and XRP will continue its trajectory towards its price targets. He recently reiterated his bullish stance on XRP, even declaring it “the one” and outlining his reasons for believing it will outperform Bitcoin and Ethereum.

Adding another perspective, crypto analyst CasiTrades also anticipates a possible further dip in XRP’s price before its next upward surge. Observing the recent drop to $2.27, she pointed out the absence of bullish RSI divergence, suggesting the downward trend might not be over yet.

CasiTrades elaborated, suggesting XRP could be heading towards the $2.17 level to test the 0.618 Golden Ratio retracement, or even potentially dip to the ‘golden pocket’ at $2.15 for a final low before a significant “lift-off.” However, she also noted a potentially positive sign: the RSI is starting to show bullish divergence, and selling pressure seems to be waning.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.