"Just get past the magical $1.6"...XRP (Ripple) targets $7.5

▲ Ripple (XRP)

XRP began July below its 50-month simple moving average, putting it at a macroeconomic crossroads. Cryptocurrency analyst EGRAG CRYPTO identified a breakout above $1.65 as a key condition for the next major bullish phase, suggesting a path to $7.5 and a long-term target of $42.

According to crypto media outlet TheCryptoBasic on July 3 (local time), XRP began trading below its 50-month simple moving average in July. EGRAG CRYPTO analyzed that in past market cycles, similar patterns often led to a final correction just before a strong rally. XRP previously showed a trend of forming a final bottom near the 88-month simple moving average before initiating its most powerful surges.

EGRAG CRYPTO divided the future trend into three scenarios. He presented a 55% probability that XRP will retest or temporarily fall below the 88-month simple moving average before embarking on an upward expansion. There's a 30% chance it quickly reclaims the 50-month simple moving average, avoiding a retest of the 88-month SMA, and a 15% chance that support near the 88-month SMA breaks, requiring more time to form a new bullish structure.

The key price that differentiates these three paths is $1.65. EGRAG CRYPTO diagnosed that XRP remains in a 'macro compression' zone until it definitively breaks above $1.65. He explained that caution is needed while it's below the 50-month simple moving average, but reclaiming that moving average could signal a resurgence in market strength.

Once a breakout above $1.65 is confirmed, target prices will sharply increase. EGRAG CRYPTO proposed $7.5 as the first major target if a macro upward expansion similar to past market cycles begins. In the long term, he also maintained a $42 target forecast, measured based on past cycle analysis. However, while acknowledging that "history may not repeat itself exactly," he assigned the highest probability to a scenario where a major rally begins after the final test of the 88-month simple moving average.

EGRAG CRYPTO's analysis suggests that if XRP quickly reclaims the 50-month simple moving average, it could be interpreted as a sign that a different trend from past cycles is unfolding. Conversely, the decisive criterion for confirming the next macro upward expansion in his forecast remains a breakout above $1.65.

[Article Key Summary]

-XRP began July below its 50-month simple moving average, and EGRAG CRYPTO presented a 55% probability of retesting the 88-month simple moving average.

-EGRAG CRYPTO identified $1.65 as XRP's key macro resistance level.

-Once a breakout above $1.65 is confirmed, the first major target is $7.5, with a long-term measured target of $42.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*