A cryptocurrency analyst has predicted a massive price surge for XRP, anticipating the cryptocurrency to witness a greater than 600% enhance. Despite its historically sluggish growth, XRP has begun to collect momentum, exhibiting potential to expertise main value progress throughout the 2024 bull run.
Price Projected To Soar Above $5
A crypto analyst recognized as Egrag Crypto has taken to X (previously Twitter) to predict an exponential price surge for XRP. According to Egrag Crypto XRP is “guaranteed” to expertise a 600% to 1000% enhance to new all-time highs round $5.5.
Basing his predictions on XRP’s historical data from 2017, the analyst shared a chart illustrating XRP’s price movements through the years. He delved into the cryptocurrency’s minimal and shortest value pumps noticed when the 21 Exponential Moving Average (EMA) crosses the 55 Moving Average (MA).
The crypto knowledgeable disclosed that in 2017, the altcoin witnessed a big value surge of roughly 902.85%, driving its value to $0.0646 on the time. Around 2021, the cryptocurrency recorded one other pump, surging by about 585.29% to commerce above the $1 value mark.
Following historical trends, XRP is anticipated to endure a considerable surge of 585.20%, reaching a value stage of about $3.26 in 2024. The analyst has revealed that if XRP manages to attain a 900% or 585% price pump, it might probably rise even additional to $5.5 or $4, respectively.
On the flip aspect, Egrag Crypto has disclosed that if XRP fails to attain an all-time excessive of $5 to $10 throughout the 2024 bull cycle, the cryptocurrency might not expertise a bullish surge till the subsequent bull run. Despite this, the analyst has remained assured in XRP’s potential to achieve triple-digit features and attain new all-time highs quickly.
When Will XRP Witness A $5.5 Price Surge?
When asked by a crypto neighborhood member concerning the timeline for the worth of XRP to probably rise to $5.5, Egrag Crypto boldly affirmed that the window of uptick lies between April and July 2024. He urged the XRP military to brace themselves for this probably bullish period, emphasizing a powerful perception for XRP to surge to unprecedented heights.
Despite its latest price drops, the sentiment surrounding XRP has remained optimistic, with many crypto analysts predicting bullish price movements for the cryptocurrency. At the time of writing, XRP is buying and selling round $0.61, reflecting a decline of 1.77% over the past 24 hours and three.93% over the previous week, in keeping with CoinMarketCap.
While the cryptocurrency has efficiently crossed resistance levels above $0.5, it’s nonetheless a great distance from surpassing its all-time excessive of $3.84 recorded in 2018.
Token value trending at $0.62 | Source: XRPUSDT on Tradingview.com
Featured picture from Bitcoin News, chart from Tradingview.com
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