 ▲ XRP |
XRP’s potential to reach a $13 price target will depend on whether it can maintain support at the upper band of the Gaussian Channel.
According to crypto media outlet The Crypto Basic on March 10 (local time), analyst Egrag Crypto stated that XRP has entered a consolidation phase to build a foundation for a new rally. Whether the upper band of the Gaussian Channel holds as support will be the key factor in achieving the $13 target. He emphasized that the upper band must act as support to sustain upward momentum. Currently, XRP is attempting to stabilize in this range after breaking through a major resistance level.
The Gaussian Channel is an indicator that utilizes the normal distribution of price movements to identify trend reversals and support zones. During the explosive rallies of 2017 and 2021, XRP surged after breaking above the upper band of the Gaussian Channel and confirming it as support. Egrag explained that if the same pattern repeats, XRP—currently priced at $1.37—could surpass its previous all-time high and enter a new price range.
Egrag presented an initial price target of $6.5 and a final target of $13, representing nearly a tenfold increase from the current level. As Bitcoin (BTC) continues to reach new all-time highs and drive the broader market rally, XRP’s undervaluation is drawing attention. However, achieving these targets would require increased demand from institutional investors.
If support fails to hold, a short-term correction appears unavoidable. Should the price fall below the upper band of the Gaussian Channel, XRP could retreat to around $1.10. Investors are closely monitoring whether the price can remain above key indicators while timing their entries. Trading volume changes during technical breakout phases are seen as a critical factor to watch.
XRP is currently in a testing phase as it attempts to break out of a six-year-long consolidation range. Holding above the upper band of the Gaussian Channel would serve as the technical basis for a rally toward $13.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from it. The information provided should be interpreted for informational purposes only.*