As a seasoned crypto investor with a knack for spotting promising opportunities, I find Egrag Crypto’s predictions about XRP intriguing. Having navigated through numerous market cycles, I can attest that Fibonacci levels often play a significant role in price movements. If Egrag’s analysis is correct, we could be looking at a potential 8,400% increase in the XRP price to $44, which is certainly an enticing proposition.
According to cryptocurrency expert Egrag Crypto, the value of XRP is projected to surge by an astounding 8,400% to reach approximately $44. Remarkably, this forecasted price point is considered a conservative estimate by the analyst, implying that XRP might even climb higher in value.
XRP Price To Reach $44
Egrag Crypto predicted in an X post that the XRP price would reach $44. He highlighted this price level as one of the conservative targets based on the current cycle and the Fib Channel. The $44 price level is the target based on the Fib 0.702 channel. The other price targets he mentioned were $13 and $27, based on the Fib 0.5 and 0.618 channels, respectively.
The analyst is certain that the price of XRP will achieve these predicted levels. He believes that, given the crypto’s history, the market should prepare for price surges to these Fibonacci Channel peaks. Additionally, Egrag Crypto anticipates that XRP will reach these targets during this bull trend, stating that the chart supports this prediction.
Egrag considers these price targets as moderately low, implying that the value of XRP might climb even higher during this bull market. While Egrag didn’t propose any additional price targets, analyst Javon Marks anticipates that the crypto could surpass three digits. In fact, Marks recently speculated that XRP could potentially reach $200.
The expert declared that the cryptocurrency has recently surpassed a six-year long Pennant formation. He predicted that if this breakout is sustained and followed by a Logarithmic Surge, XRP could potentially reach $200, translating to an astounding increase of more than 30,000%.
Marks expects the XRP price to reach $3.3 in the short term, close to its current all-time high (ATH) of $3.8. The analyst explained that since 2022, the crypto has confirmed multiple hidden bull divergences and is on course to achieve a bull breakout.
As stated by him, this anticipated surge in the bull market for XRP could see its value rise by over 450% and touch the $3.3 mark. He further mentioned that this potential price increase might just be the beginning, considering his confidence that the crypto could ultimately reach a staggering $200.
The Worst Case Scenario
Amid these bullish predictions for the XRP price, Egrag Crypto has also revealed the worst scenario for the crypto in this market cycle. He claimed that XRP would at least reach between $2.3 and $5.89 in this bull run and outlined two reasons why he believes the crypto can at least reach these price targets no matter what.
Initially, he pointed out that following the US Securities and Exchange Commission (SEC) withdrawing their lawsuit in December 2020, XRP saw a significant increase of up to 10 times its original value. He suggested that if a similar situation arises after the SEC’s appeal, XRP could potentially climb to the $5 to $6.5 range. Furthermore, he speculated that under ideal conditions, XRP might even reach the Fibonacci 1.618 level, which would put its value around $6.5.
Additionally, he pointed out that the value of XRP could potentially rise to $2.31 and $2,88 if the price of Bitcoin ascends to $80,000 and $100,000. He anticipates a similar pattern for XRP as it exhibited during the 2021 bull market, following Bitcoin’s lead.
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2024-10-09 09:40