With the general crypto market flashing green in recent days, XRP investors are awaiting the possibility of the token breaking out of its consolidation zone below $0.50.
In this line, crypto analyst Egrag Crypto opined in an X post on June 30 that the token may still have some upside, suggesting it could likely rally past the $6 mark.
The expert analysis is based on observing key XRP Fibonacci levels in particular. The analyst emphasized the significance of the current monthly candle formation closing above the 0.236 Fibonacci level.
Notably, this pattern is interpreted as a natural consolidation phase, setting the stage for a potential breakout.
In this line, the next major target is the 0.5 Fibonacci level at around $1. If XRP can surpass this with strong momentum, the path to the 1.618 level, and hence to $6.4, becomes much clearer, the popular trader noted. This value reflects a spike of over 1,200% from the XRP’s current price.
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