Analysis Reveals Historical Patterns Favouring XRP with Potential Gains of 482% or 51,000%, Aiming for $3.3 Or $250

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shutterstock 1991776319.jpg

The cryptocurrency industry has always been marked by its dynamic nature, where assets such as XRP can surge massively or plunge to a significant low. 

Within this constantly evolving landscape, Ripple XRP has garnered substantial interest from investors and enthusiasts.

Recently, a prominent crypto analyst made a bold prediction on Twitter, suggesting that XRP could skyrocket to a staggering $3.3 or $250 price mark. 

This prediction has ignited curiosity within the crypto community as investors eagerly assess the potential implications of such a significant surge for XRP.

Egrag Highlights Potential Price Prediction for XRP

According to Egrag, historical data suggests a pattern for Ripple during bear markets. He stated that when XRP reaches the end of a bear market, it often shows multiple consecutive closing prices above the Channel. 

However, Egrag emphasizes that a sudden price drop and a continued decline usually follow this pattern. Eventually, XRP might experience a significant surge in value after this decline.

At the time of writing, XRP holds a 1.71% price drop and has since spent 35 days in a declining phase, trading within the mid-point range of the Channel. 

However, Egrag analysis indicates a potential price increase, with the expectation that if XRP continues its consolidation in the mid-point of the Gaussian Channel, it may reach a value of $3.3.

Egrag also emphasized an alternative scenario where XRP could deviate from the current trend and potentially achieve a significantly more significant price increase. 

According to Egrag, if XRP does not continue its consolidation around the mid-point of the Channel but instead experiences a further decline towards the lower boundary of the Channel, it could potentially surge to a price of $250.

The current price movement of XRP shows similarities to a previous price observed trend in 2021. In that instance, XRP’s value rose significantly from $0.22 in December 2020 to $1.91 in April 2021, resulting in a remarkable 768% increase in value. 

If XRP were to repeat a similar pattern now, starting from its current value of $0.48 and reaching $3.3, it would require a surge of approximately 587.5% in XRP’s.

Also, an increase from its current price mark of $0.48 to a high of $250 would result in a significant increase of 51,983.3%.

Egrag Previous Prediction

In a recent tweet, market watcher Egrag made a similar prediction concerning the price projection of XRP. Egrag revealed a potential price projection based on technicality and rationality. The analysis suggests a strong possibility of XRP’s price increasing soon. 

Egrag presented two potential scenarios for the increase, suggesting a $10 surge in the first scenario while the second scenario predicts a considerably more significant surge to $124.

According to Egrag, Ripple’s native token has an advantage over other assets like BTC due to its potential legal clarity. He further stated that one could gain insights into its future trajectory by examining XRP’s past performance, 

Egrag identified a crucial Fibonacci level of 1.618 within this analysis, located at the $10 price point. He encouraged the XRP Army to stay steady because glory doesn’t come on a golden plate.

Based on XRP’s current price mark, it would need a massive of 1,983% to reach the anticipated price of $10. Furthermore, achieving the projected cost of $124 for XRP would necessitate a substantial surge of 25,733.3%. 

It’s worth noting that XRP has demonstrated significant price growth in the past, reaching a peak of $2.47 in December 2017 from a starting point of $0.00564 in August 2013. 

This remarkable price movement represents a staggering increase of 43,695% over three years. Egrag’s recent analysis centers mainly on this historical price movement.

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