Crypto analyst sticks to $7.50 XRP target despite SEC appeal

Despite the recent SEC appeal against Ripple (CRYPTO:XRP), which caused XRP to drop by more than 10%, crypto analyst Egrag Crypto maintains his bullish prediction for XRP, targeting $7.50 for the token. 

According to his analysis, shared via X, the current legal proceedings have not altered the long-term technical outlook for XRP. 

Egrag emphasizes that XRP’s price structure remains resilient, and a retest of the $0.5428 to $0.5375 range was expected. 

He reassures holders that these external pressures do not change the broader trend, with two critical trend lines, the "Atlas Line" and the "Genuine Wake-Up Line," continuing to dominate XRP’s price action. 

As long as XRP stays above $0.28, Egrag believes the bullish outlook holds. 

He further adds that while XRP may drop to $0.43 in the short term, this should not be seen as a change in the long-term macro-level trajectory. 

The analyst points out that until XRP breaks above $0.75, a full bull run should not be anticipated. 

Egrag remains confident in the $7.50 target, which would require a rally of over 1,300% from the current price level. 

He encourages XRP holders to view current market reactions as temporary noise and an opportunity to accumulate more tokens. 

Despite the market volatility, Egrag asserts that XRP’s potential remains intact, highlighting that "XRP is still not a security."

At the time of writing, the XRP price was $0.5243.