If History Repeats This Altcoin Could Shoot Up 1920%!

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Famous crypto analyst Egrag recently shared a remarkable price projection for XRP, one of the popular assets of the cryptocurrency world. Focusing on technical and rational data in his analysis, Egrag examined the possible price movements of XRP in the future and reached striking results.

Egrag took XRP’s past performance into account when projecting its price. egrag’s analysisfocused on models based on historical data, suggesting that projection originates from a rational point of view.

By analyzing historical price data, Egrag examined how XRP behaved and what factors could affect the price. According to Egrag’s analysis, the price of XRP could increase significantly, with the value of the asset rising to the level of $10 or even $124.

However, it seems that Egrag also makes a point of attention. XRP’s potential legal clarity is a key factor that sets it apart from other crypto assets. The features and functions that XRP possesses set it apart from other cryptocurrencies and may have the potential to overcome regulatory uncertainties.

If we take a closer look at the price targets for the altcoin, the potential of $10 comes to the fore with a critical Fibonacci level of 1.618. Building on this bullish sentiment, Egrag’s analysis extends to the 2.618 Fibonacci level, located at the $124 price point. According to Egrag, a rise in XRP to $10 could become possible without significant resistance as XRP reaches $124 using this point.

XRP Price Will Have To Increase By 24950%

Specifically, at its current value, XRP will need to collect around 1920% for it to reach a price of $10. Additionally, reaching the final projected price of $124 will require a significant 24950% increase in the altcoin price.

Interestingly, XRP has appreciated at a much higher rate in the past. XRP rose from $0.00564 in August 2013 to $2.47 in December 2017. This rally shows that XRP has experienced a massive increase of 43.695% in three years.

Egrag’s latest analysis primarily takes this historical price action into account. However, it is worth noting that even though XRP has made similar gains in the past, posting a 249.5x price increase is not easy. Also, an XRP community member pointed out the claim that if XRP repeats its historical pattern, the asset will witness a longer period of sideways movement this time. Egrag admitted that there was such a possibility.

Egrag’s analysis can be an important reference point for investors and the cryptocurrency community. However, it is important to always do your own research and make your own decisions when investing in cryptocurrencies. Past performance is no guarantee of future performance, and market conditions are always subject to change.

You can check the price movements here.

Source : the crypto basic


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