EGRAG Crypto, a cryptocurrency analyst, has published his latest prediction for the popular altcoin XRP. The analyst suggests that XRP will rise up to 250 percent. Here are the details…
Huge prediction for XRP has arrived
Well-known analyst EGRAG CRYPTO noted the potential for a significant increase in XRP price based on a technical analysis based on Fibonacci retracement levels. According to a recent tweet from the analyst, “#XRP to $1.4: If XRP closes above the Fib 0.5 level with undeniable confirmation at $0.57, we will keep our eyes on $1.4!” said. Detailed analysis of the chart shared by EGRAG CRYPTO reveals key price points that are important for the future movement of XRP. The “wicking” range is shown between $0.3875 and $0.4719. A decline below $0.3875 would be a cause for concern as it would invalidate the chart setup.
The “varying” area, where XRP has no clear direction and only moves sideways, is defined by the analyst as the range between $0.4719 and $0.5119. However, if the cryptocurrency manages to surpass $0.5119, it would also enter the “bullish” zone that extends to the important 50 percent Fibonacci retracement level of $0.5738. According to EGRAG CRYPTO, breaking this price level is the key catalyst for an extensive XRP price rally. The analyst assumes that XRP will not face significant resistance after breaking above the 50% Fibonacci level and could eventually surpass the yearly high at $0.9310. However, according to the analyst, this is not the end of the road. According to him, the ultimate target of a 250 percent rally is the 1.618 Fibonacci extension level at $1.4694.
What is the long-term Ripple forecast?
EGRAG’s broader perspective on XRP’s price performance is based on its analysis of historical accumulation trends. This concept revolves around the idea that the longer an asset remains in accumulation, the more challenging the next breakout will be. A few days ago, he identified multiple accumulation zones for XRP, each phase leading to significant price multiples. While XRP is currently in the 68-month longest accumulation zone, EGRAG CRYPTO believes this could be the start of an explosive rally. The analyst presented potential price scenarios based on XRP’s all-time high (ATH) of $3.3.
The most aggressive of these predicts a 27x increase from its all-time high and positions the cryptocurrency at around $89.1. The second assumption puts the token at around $22, a 6.75x increase from ATH. The third assumption envisions a 2x upside from the ATH to $6.6, while the analyst’s fourth assumption targets a 14x target resulting in $46. At the time of writing, XRP was trading at $0.5093 after a failed attempt to regain the trend line (black).
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