The XRP price has been experiencing a prolonged downturn, but a crypto analyst, Egrag Crypto, has made a bold prediction that the cryptocurrency will break out of its current slump and reach a target price of $7.5. This projection is significant, as it would mark new all-time highs for XRP and end its years-long downward trend.

Egrag Crypto shared his analysis on X (formerly Twitter), highlighting a unique triangle pattern on XRP's price chart, which indicates a critical Fibonacci 1.618 zone ranging from $6.5 to $7.5. He believes that XRP will break out of this pattern and reach a measured move at $1.5, initiating a short but robust upward momentum.

The analyst emphasized that this Fibonacci 1.618 zone is a key resistance area and a prime opportunity for profit-taking by investors. He urged XRP supporters to remain patient and steady, as the breakout might follow the pump of other major cryptocurrencies in the market.

Egrag Crypto also projected a rise to mid-double digits for XRP, with potential targets at the Fibonacci 2.414 and 2.618 levels, indicating a bullish surge between $25 to $45.

However, despite this bullish outlook, XRP's current price performance remains disappointing, recording a 2.15% decline in the last 24 hours and a substantial 6.61% decline over the past seven days. The cryptocurrency is currently trading below $0.5, with a price of $0.48.

Despite the bearish performance, XRP's trading volume is surging, with an 80.02% increase in its 24-hour trading volume, highlighting the sustained interest and demand for XRP amongst crypto traders and investors.

Overall, Egrag Crypto's prediction offers a beacon of hope for XRP supporters, who have been waiting for a significant price increase. While the current price performance may seem discouraging, the analyst's projection suggests that XRP may be poised for a breakout, potentially leading to new all-time highs.