Crypto analyst Egrag Crypto has made headlines with his audacious predictions regarding the future price of XRP. Based on historical patterns observed in previous market cycles, he suggests that the altcoin could soar to an astonishing $46. Furthermore, his in-depth analysis of the altcoin’s journey through three market cycles indicates that XRP could still reach double digits, reflecting trends seen in other cycles.
XRP Price To Reach $46 If It Mirrors Cycle One
In a recent X post, Egrag Crypto claimed that if XRP replicates the price action of its first market cycle, it could potentially touch the $46 mark. He pointed to historical data from cycle one, where XRP experienced a staggering drop of 5,550% after falling below the 21 Exponential Moving Average (EMA). The altcoin then rebounded to the 21 EMA only to decline a further 2,500%.
Additionally, Egrag predicts that if XRP follows the patterns of its second cycle, it could achieve a price of $12. In this cycle, XRP also dipped below the 21 EMA, leading to a 150% drop, followed by a retracement back to the EMA and another plunge of 500%. Averaging these projections—of 2,500% and 500%—yields a theoretical price target of $30. However, the analyst has conservatively estimated a target of $27.
Evaluating the current cycle—referred to as cycle three—Egrag observed that XRP has, once again, dropped below the 21 EMA but indicates a promising potential rise of 430%. As the altcoin retraces to test the 21 EMA, he believes that if XRP maintains a price above $2, the EMA will eventually adjust to meet the growing price. He assures that this movement is imminent and could occur sooner than anticipated.
The Altcoin To Hit $27 In Just 60 Days?
In a separate analysis, Egrag Crypto speculated on the possibility of XRP seeing a meteoric rise of 1,700% to reach $27 within the next 60 days. He cites a historical trend from October 2017, where the altcoin underwent a similar price action and surged by 1,772% over approximately 63 days, setting a new all-time high (ATH).
If history is any guide, Egrag Crypto confidently asserts that XRP may be on the verge of a significant breakout possibly reaching the $27 milestone in the coming 63 days. He emphasizes the importance of taking profits along the way as the altcoin climbs towards its target. Moreover, he noted that overcoming the $3 barrier, which represents the high from February 24 of this year, is crucial for paving the way towards double-digit gains.
As of the latest reports, XRP is trading at approximately $2.33, reflecting an upward trend in the past 24 hours, as per data from CoinMarketCap.
