In the ever-evolving crypto landscape, XRP has become the subject of intensive scrutiny and speculation among analysts, with the potential to soar to US$20.

Recently, crypto analyst Jaydee has painted a scenario where the price of XRP could potentially surge to US$20 in the next bull run peak. Although appearing optimistic, several factors must align for this scenario to unfold.

XRP Price Prediction

In a post on X, Jaydee identifies the US$20 level as a potential peak for XRP, using market capitalization as a crucial indicator.

#XRP - This could be a possible top of $20+ (using Market Cap as a marker) if structure breaks

However, once overbought on multiple higher timeframes (w/multiple oscillators), I'll take profits regardless of top! (Patreon/Discord - please see my strategy!)

RT/Like for updates!… pic.twitter.com/f1xXEIwYye

— JD 🇵🇭 (@jaydee_757) January 22, 2024

As reported by NewsBTC, Jaydee had previously expressed doubt about the possibility of XRP reaching the range of US$10 to US$15, making his latest analysis somewhat surprising to his followers.

Insights from Egrag Crypto

Adding another dimension to the analysis, crypto analyst Egrag Crypto provides insights into the current condition of XRP. According to him, the monthly time frame indicates a bullish trend, hinting that a substantial surge might be in preparation.

However, he warns of the possibility of a downturn before the anticipated spike, indicating that it might be significant enough to shake weak crypto holders.

Egrag Crypto also highlights the critical zone where XRP currently resides, mentioning that a weekly close below the edge of the ascending triangle pattern could trigger a price drop to US$0.34. Conversely, if XRP manages to close above US$0.75, it would negate the current setup, according to his analysis.

Despite uncertainty about XRP's future, analysts like Egrag Crypto view the current dip in the market as an opportunity to accumulate more of this crypto.

Their strategic approach involves preparing for the potential surge they anticipate will happen swiftly.

The prevailing sentiment among various crypto analysts indicates the possibility of further decline in XRP prices before any substantial upward movement.

Another crypto analyst, Ali Martinez, previously predicted a potential drop to US$0.34 for XRP if it fails to hold above the US$0.55 support, a prediction aligning with the current market dynamics. Let's keep a close watch on it.