Ripple
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The cryptocurrency XRP continues to show bullish signals in technical analyses, resembling the chart structure of the 2017 bull run. Prominent market analysts like EGRAG CRYPTO and Ali Martinez are signaling that XRP could experience significant jumps in the short term.
Technical Analysis Indicates Bullish Potential
According to EGRAG CRYPTO, XRP is undergoing a cycle similar to its price structure in 2017. The analyst indicates that XRP is approaching the end of the third wave according to Elliott Wave theory and expects the fourth wave to begin forming in the coming years. Based on this prediction, it is suggested that XRP could reach $27 in the short term.
In the charts shared, EGRAG CRYPTO emphasizes, “The wave structure is repeating. $27 and then $120 could be on the table,” highlighting XRP’s significant jump potential. These statements have sparked excitement, particularly among traders who rely on technical analysis.
The support levels identified by the analyst in the current price structure of XRP are critically important. It is noted that any closures below the 21-day exponential moving average (EMA) could disrupt the bullish scenario. The price needs to maintain within the range of $2.10 to $1.95.
Chart Patterns and Market Expectations
Crypto analyst Ali Martinez points out an inverse head-and-shoulders pattern in XRP charts. If this pattern completes, he suggests that XRP could break the $2.40 resistance and climb directly to $2.70. This technical formation is seen as an important signal for the market’s next movement.
According to TradingView data, XRP is currently testing the $2 level and facing strong resistance around $2.7265. Technical indicators suggest that volume must increase for upward movement to continue.
Moreover, not only technical data but also investor interest supports XRP’s strong outlook. Since the beginning of the year, $214 million has flowed into XRP-related investment products, with $37.7 million recorded in the past week alone.
Legal advisor John Deaton has made a noteworthy comment regarding XRP, often mentioned in legal contexts. Deaton believes XRP has the potential to challenge Ethereum 
$1,776‘s market leadership. This claim suggests that interest in XRP is not only based on technical foundations but also viewed as a strategic investment tool.