Crypto Analyst Predicts Massive 8,400% Rise For XRP Price To $44, Calls It ‘Conservative’
09 Ottobre 2024 - 8:30AM
NEWSBTC
Crypto analyst Egrag Crypto has predicted that the XRP price will
rise 8,400% to $44. Interestingly, the analyst suggested that the
crypto could still reach a higher price target, calling the $44
price level “conservative.” XRP Price To Reach $44 Egrag Crypto
predicted in an X post that the XRP price would reach $44. He
highlighted this price level as one of the conservative targets
based on the current cycle and the Fib Channel. The $44 price level
is the target based on the Fib 0.702 channel. The other price
targets he mentioned were $13 and $27, based on the Fib 0.5 and
0.618 channels, respectively. Related Reading: Here’s Where
We Are In The Bitcoin Bull Cycle According To The Wall Street Cheat
Sheet The analyst is confident that the XRP price will hit these
price targets. He claimed that since the crypto’s inception, the
chart has indicated that the market can expect pumps to these
Fibonacci Channel levels. Egrag Crypto also suggested that XRP will
reach these price targets in this bull run, claiming that this is
what the chart states. Egrag’s label of these price targets
as conservative also means that the XRP price could still rise
higher in this bull run. The analyst didn’t provide any other price
target, but other analysts like Javon Marks have predicted that the
crypto could reach three digits. Marks recently predicted that XRP
could rise to as high as $200. The analyst stated that the
crypto has broken out of a Pennant pattern of over six years. He
claimed that hold of this break plus a Logarithmic Follow-Through
after can send XRP to $200, representing a price gain of over
30,000%. Marks expects the XRP price to reach $3.3 in the
short term, close to its current all-time high (ATH) of $3.8. The
analyst explained that since 2022, the crypto has confirmed
multiple hidden bull divergences and is on course to achieve a bull
breakout. According to him, this bull breakout will lead to a
price gain of over 450% as XRP reaches the $3.3 range. He added
that this price breakout may only be a start, especially since he
believes the crypto will still reach $200. The Worst Case
Scenario Amid these bullish predictions for the XRP price, Egrag
Crypto has also revealed the worst scenario for the crypto in this
market cycle. He claimed that XRP would at least reach between $2.3
and $5.89 in this bull run and outlined two reasons why he believes
the crypto can at least reach these price targets no matter
what. Related Reading: Here’s Why The Bitcoin Price Could Hit
$100,000 Before The End Of The Year First, he noted that XRP
managed to do a 10x from the bottom after the US Securities and
Exchange Commission (SEC) dropped the lawsuit in December 2020. He
stated that XRP could easily hit the $5 to $ range if there is a
similar situation after the SEC appeal. He added that the crypto
might reach the Fib 1.618 level at around $6.5. Secondly, he
mentioned that the XRP price could hit $2.31 and $2,88 if the
Bitcoin price reaches $80,000 and $100,000, respectively. He
expects XRP to mirror BTC’s move, just like it did in the 2021 bull
run. Featured image created with Dall.E, chart from
Tradingview.com
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