The bullish predictions for XRP are back, despite the struggle of bulls to push the crypto towards a significant price surge. EGRAG, a well-known cryptocurrency expert, has made one of these optimistic forecasts. According to his analysis, XRP could see a massive price spike, potentially reaching $4 over the long term.
Expert analysis indicates a resurgence in bullish sentiments towards XRP‘s price, despite challenges in driving significant price rises. EGRAG, a notable cryptocurrency authority, has voiced such optimism, predicting a substantial price increase, potentially reaching the $4 mark over the extended timeframe.
Crypto Analyst Predicts 700% Bullish XRP Price Action
Over the recent days, XRP has seen a minor drop in value amidst the wider crypto market’s price stabilization. This year, XRP’s price fluctuations have left many of its ardent supporters disillusioned, given that it has not yet touched the $1 threshold as anticipated by numerous analysts.
The data from Coinmarketcap indicates that the price of XRP hovers around $0.51 following a recent dip to $0.435 on April 13, as per Coinmarketcap’s records. However, according to EGRAG’s predictions, this trend is expected to shift soon.
Expert: EGRAG, who is well-known for his optimistic viewpoint on XRP, has pointed out in his latest analysis that the current trend in XRP’s price action seems to echo the price surge from 2021, which peaked at around $1.8. Based on his examination, EGRAG has segmented the anticipated price trajectory into two parts: blue and yellow. Each of these sections represents a reflection of XRP’s 2021 price progression.
#XRP Imitating 2021 – Move:
Based on the present trend, there’s a strong likelihood that the price will hit around $1.4 by June or July. A reasonable expectation lies within the range of ($1.2 to $1.8).
Yellow Section: Aiming for $4 is feasible if we follow a similar path to 2021.…
— EGRAG CRYPTO (@egragcrypto) April 25, 2024
The portion represented by the blue line indicates a relatively confined price trend for XRP, implying that it may hit $1.4 by June or July, with a potential price range of around $1.2 to $1.8. Conversely, the yellow section signifies a more optimistic price trajectory, suggesting that XRP could ascend to $4 by June or July based on last year’s trend. Notably, attaining this level would establish a new peak price for XRP.
What’s Next For XRP?
Expert Note: Among the numerous cryptocurrency analysts, EGRAG maintains a positive outlook on XRP‘s price trend. He anticipates a long-term price peak of $27 for XRP, which he considers a reasonable forecast. At present, XRP is priced at $0.5148 on the market, representing a 16.8% decrease over the past month.
To hit a $4 mark for XRP by July, the bulls need to propel the crypto up by an astounding 677% within this short span of two and a half months. While such a price surge is not impossible given the inherent volatility in cryptocurrencies, the current market conditions indicate only moderate growth for XRP at most.
While off-chain indicators may suggest bearishness for XRP, contradictory signs emerge from on-chain data. Specifically, there’s been a noticeable increase in the number of XRP wallets containing over one million coins – a potentially bullish indicator that could foreshadow a price rise.
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2024-04-28 01:16