Egrag, a well-known technical analyst and XRP proponent has spotted a probable conditional bullish scenario for the sixth-largest cryptocurrency by market capitalization. Although he made reference to historical patterns and previous XRP price cycles, he submitted that the analyses represent his observations.
According to a recent analysis, Egrag suggested that XRP could either surge to $3.3 or rally as high as $250, depending on the trajectory the asset follows in the coming weeks or months. This forecasted price performance represents an increase of 482% and 51,000% for XRP.
Read Also: Expert Chartist Says This Wave 3 Trend Can Send XRP Price to $12 or $50. Here’s the Timeline
Notably, the analyst cited some historical patterns observed in previous XRP price cycles, which he labeled Cycle A and Cycle B, urging XRP enthusiasts and the broader crypto community to study these cycles to better grasp his recent price projections for XRP.
In Cycle A, which occurred from December 2014 to January 2018, XRP saw a series of price fluctuations before staging a rally toward the $0.013 level in January 2018. Similarly, from November 2020 to April 2021, Cycle B witnessed such changes and a subsequent price upswing. It bears noting that the price rally observed during Cycle A is much higher than in Cycle B.
#XRP Gaussian Channel & ABC-$3.3 or $250 (Update):
📅 Please check the Post dated back on May 22, 2023 🔗 https://t.co/MOziHS0MhO
🚨 Disclaimer: 🤷♂️ If you don't understand simple analysis or comparing cycles, please refrain from commenting or posting on your @youtube channel… pic.twitter.com/VfZC2cMAB4
— EGRAG CRYPTO (@egragcrypto) June 23, 2023
Read Also: Crypto Strategist Ali Martinez Reveals Most Accurate XRP Price Predictor
XRP price prediction: $3.3 or $250?
As stated by Egrag, “XRP is still in alignment between ‘A’ & ‘B’ of the previous cycles,” hence his corresponding projections. According to him, if the price of XRP continues to range near the middle of the Gaussian Channel, which represents the $0.41 price level then XRP is more likely to follow the pattern seen in Cycle B. Should this be the case, Egrag predicted that XRP’s ultimate target would be the $3.3 price level.
However, if the prevailing XRP price action takes the asset to as low as $0.33 per coin, Egrag suggested that XRP would imitate the previous Cycle A pattern. Thus, he noted that “if XRP drops drastically and goes to the low end of the Gaussian Channel and even lower then it is more prone to behave similarly to Cycle ‘A’ and the imitation of the price action will take XRP to $250.”
#XRP Gaussian Channel & ABC ($3.3 or $250 !!!!!):
Before reading this post, I need you to re-read the post dated back on 10th of May 2023 in order to remember the logic behind this TA. https://t.co/V6hV7qgU43
So far #XRP is still in alignment between 'A' & 'B' of the previous… pic.twitter.com/9uwJKCUeLK
— EGRAG CRYPTO (@egragcrypto) May 22, 2023
On the whole, the XRP permabull stressed that the $3.3 and $250 predictions are just comparisons between past cycles and not a sure price range. He concluded thus; “I am attempting to anticipate whether we will follow Cycle A and what will happen to XRP price, or if XRP will repeat Cycle B and where the price will be heading. It is not a range from $3.3 to $250. Understand the simple comparison between cycles.”
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