Analyst Expects 1,500% XRP Rally to $27 as XRP Retests BMSB Amid Recent Drop to $1.7

EGRAG Crypto, a well-known analyst, believes XRP could secure a 1,500% rally in its next uptrend following a retest of the BMSB.

For context, the BMSB refers to the Bull Market Support Band, a major dynamic trendline used to determine if XRP is in a bull or a bear market. Notably, XRP decisively soared above this BMSB when its price rallied from $0.50 last November on the back of the U.S. elections.

XRP Retests the BMSB

From this level, XRP reclaimed several psychological levels, including the $1 and $2 price territories last year, further cementing its position in the bull market and setting up a massive distance between its price and the bull market support band (BMSB).

Amid the uptrend, XRP recovered $3 last month. Interestingly, earlier last month, while XRP showed strong fundamentals, EGRAG suggested the asset could encounter a rendezvous that would see it revisit the BMSB. The analyst essentially predicted a major pullback to retest lower support levels.

This rendezvous occurred this month, February 2025, as XRP eventually collapsed to a new yearly low of $1.76 on Feb. 3. This drop allowed XRP to retest the BMSB, currently positioned around $1.7. However, the asset recovered immediately, respecting the support in this area.

For context, EGRAG suggested in the previous analysis that XRP’s potential to recover from the rendezvous would depend on its ability to respect and hold above the BMSB. Moreover, with the drop to $1.76, XRP also retested an area EGRAG calls the Purple Foundation, which presents additional support.

A Recovery Could Push XRP to $27

In his latest analysis, the market commentator pointed out that the retest of the BMSB and the Purple Foundation is historically significant. Data from the weekly chart indicates that XRP also revisited the Purple Foundation and nearly retested the BMSB in April 2017 after an earlier upsurge from February to late March 2017.

#XRP – Double Digits – 1500% Pump :

Let’s break down what’s happening with #XRP:

Bull Market Support Band (BMSB): This is our key indicator for determining whether we’re in a #BullRun or a #BearMarket. Currently, we’re positioned above the BMSB. I mentioned in a previous… pic.twitter.com/PNB4OmuCN8

— EGRAG CRYPTO (@egragcrypto) February 6, 2025

Interestingly, after the pullback to $0.0250 in April, XRP secured an impressive recovery, surging to $0.3988 in May 2017 and then consolidating for the rest of the year. However, from December 2017, the altcoin surged again, claiming the all-time high above $3 in January 2018.

EGRAG Crypto believes the initial recovery could repeat this year. According to his analysis, if a similar trend plays out, XRP’s recovery from the ongoing downtrend would lead to a 1,500% rise from the $1.7 low. Such an upsurge translates to a price target of $27.

The market analyst has persistently argued for an XRP to $27 target over the past few months, citing varying catalysts. Last December, he insisted that XRP could still hit $27 amid an expected rendezvous with the 21-period MA. In his Bifrost Bridge analysis, EGRAG also predicted XRP to reach $27.

Currently, XRP changes hands at $2.37, up 2% over the past 24 hours. This makes it the highest gainer among the top 10 assets, as nearly every token is witnessing losses. XRP would need a 1,039% rally from the current position to reach $27.

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