XRP Path to $17 with Bent Fork, 3,763% Surge Impending: Market Watcher

EGRAG, a well-known pundit in the XRP community, has outlined how XRP could cart its way to $17 in the coming months, pinpointing crucial indicators that would confirm the audacious outlook.

In a recent post on X, EGRAG updated one of the lineups of his prediction posts about XRP dubbed “The Bent Fork.” He created this series in June 2023, proposing a $15 target as the ultimate threshold for XRP based on the analysis, though he has since revised the value to $17.

In his latest commentary, the analyst spotlighted five factors that could indicate the journey to $17 has commenced. 

#XRP : The Bent Fork ($17 & Historical Support) – UPDATE:

🔍 June 2023: We introduced “The Bent Fork Chart.” Here’s the latest scoop:

🎯 New Top Target: $17
🚧 Key Resistance: $1 – both a structural barrier and psychological hurdle.
🏆 All-Time High (ATH): $3.5 – breaking… pic.twitter.com/H8IQ03tCYu

— EGRAG CRYPTO (@egragcrypto) July 8, 2024

Indicators to Confirm Road to $17

First, EGRAG stressed the significance of XRP reclaiming the $0.4 region. Notably, XRP first breached below the $0.4 channel on July 5 but has mildly regained its footing. In the last 24 hours, XRP came dangerously close to relapsing to $0.39 again, setting an intraday low of $0.4047. However, XRP trades at $0.44, posting a 2% gain today.

Amid this mini recovery, EGRAG noted that the $0.75 threshold is the gatekeeper to confirm the initial phases of XRP’s bull surge. Specifically, the analyst stated that XRP conveniently closing above $0.75 would set the crucial path to reclaim for a new all-time high.

Notably, XRP abruptly surged by 20% in mid-March to attain $0.74 amid the broader buoyant market in Q1. Remarkably, XRP’s uptrend on that day was solitary and widely praised, attracting even a bullish sentiment from Ripple’s CEO Brad Garlinghouse.

To the dismay of many, the rally was short-lived; XRP commenced a downtrend from which it has yet to recover fully. 

With $0.75 being EGRAG’s requirement to confirm the trajectory to an ATH, XRP is now confronted with a formidable 70% bullish rally.

XRP Breaking $3.5 Sets the Stage for 3,763% to $17

Meanwhile, he observed that the $1 mark is acting as both a structural barrier and a psychological obstacle to the expected rise. Once surpassed, the next significant level is $1.8, which the analyst referred to as an equilibrium point.

Should XRP meet these criteria, EGRAG suggested that the XRP Army might anticipate a dramatic surge, potentially driving XRP by 3,763% to $17.

One last key indicator would be XRP surpassing its six-year-old all-time high, positioning the asset for more triumphant success. In EGRAG’s words, breaking $3.5 “could open the gates to Valhalla.”