Popular analyst EGRAG, XRP He commented on the current levels and possible future movement of the price. The analyst noted that the possibility of a possible explosion in price increased and drew attention to the phenomenon he called “RGB”.
GRB, which stands for gamma ray burst, is a highly energetic explosion that releases enormous amounts of gamma ray radiation. EGRAG believes that XRP’s price explosion will follow a similar pace.
However, according to the analyst, the primary catalyst for this expected price explosion is the crypto asset’s potential to repeat its 2017 rally. Although the XRP price fell to a low level of $0.0030 in January 2017, it is known that the market was already witnessing a preliminary bullish phase at that time.
As Koinfinans.com reported, XRP increased by 110% from $ 0.0030 to $ 3.31 during that period. However, the asset remained fairly quiet at times in 2023.
Potential XRP Price Targets
While XRP’s underperformance has caused concerns among some investors, EGRAG predicts a price formation similar to that of 2017.
EGRAG noted that the next Fibonacci zones are based on ambitious price targets such as $11, $33 and $220. For context, the $220 price represents a 36.233% price increase from XRP’s current price of $0.6055.
