XRP Bullish Breakout: Could Reach $13 or Even $15 Soon

• XRP’s breakout could lead to new record highs, with a target range of $3.7–$4.2.
• Analyst Egrag Crypto predicts a 60-70% chance of a bullish breakout for XRP soon. 
• The long-term target for XRP is $13, with the potential for further gains to $14–$15.

The price of XRP is receiving much attention as it could be primed for a breakout, which can lead to a high surge in price. In a recent X post on Friday, analyst Egrag Crypto pinpointed that the XRP chart highlighted several trends. The focus is on forming an ascending triangle, which indicates the possibility of a strong price rebound for XRP. 

If the breakout happens, then XRP may experience new record highs. Egrag noted that the breakout to the upside will be the first indication that XRP is in the final Bullish Pennant stage. The target for this initial move is $3.7 – $4.2. He also mentioned that XRP tends to surpass its goals by 10-15%, leading to more short-term fluctuations. As of press time, XRP is trading at $2.41, showing a 0.70% increase over the past day.

Bullish Breakout Probability

The analyst suggested that the chance of a bullish breakout is between 60 and 70%, and a decline is less probable, at 30% to 40%. He also stated that the market can be volatile at any time and that the direction of XRP’s next move is unclear until the breakout occurs.

Should the price bar break up and hit the $3.7—$4.2 range, this will probably validate the Bullish Pennant. At this point, XRP could start the next phase and reach a price range between $8 and $13. Investors should base their intermediate-term trades on this level as a critical area for active trading. Strategic selling may make it possible to consolidate the achievements.

Dollar-Cost Averaging Strategy

According to Egrag, the dollar-cost averaging strategy is still effective for investors. This approach is useful in ensuring that risk is foreseen and avoided while trying to reap from possible price hikes. Traders can minimize short-term fluctuations, which is very beneficial in a volatile market like cryptocurrency.

Moving to the longer term, Egrag selected $13 as a long-term goal for XRP. However, he stated that the price could go up by another 10-15%, bringing it to $14 or even $15. The goal of achieving these returns rests upon the next breakout. Investors need to keep a close watch on the price movements in the market.