Cryptocurrency analyst EGRAG CRYPTO (@egragcrypto) has presented an optimistic outlook for XRP’s price potential in the coming market cycle. Through a series of charts comparing XRP to Bitcoin and Ethereum, the analyst suggests XRP could reach double-digit prices and potentially much higher.
The analysis centers on Elliott Wave Theory, which posits that market trends move in repeating wave patterns. According to EGRAG CRYPTO’s interpretation, XRP may be entering its “MACRO Wave 5,” which is typically the final wave of a bullish cycle.
Comparing XRP’s chart to Bitcoin and Ethereum, the analyst notes that while Bitcoin has reached and struggled to maintain the Fibonacci level 3 extension, Ethereum surpassed this level and reached the 4.272 Fibonacci extension in its last cycle peak. This comparison forms the basis for EGRAG CRYPTO’s bullish projections for XRP.
The analyst presents multiple price targets based on different wave relationships. First of these is a conservative target between $27-$33, representing the Fibonacci 3 extension level. Notably, EGRAG CRYPTO has reiterated the $27 target many times since 2023. This aligns with typical Wave 5 behavior, which, according to EGRAG CRYPTO, often spans 1.236-1.618% of Wave 4.
His second target is a more optimistic level of $1,780, which would match Ethereum’s performance in reaching the 4.272 Fibonacci extension.
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Is XRP About to Skyrocket?
Based on EGRAG CRYPTO’s analysis, XRP could outperform Bitcoin in the coming cycle. The analysis also suggests that XRP’s Wave 5 could equal Wave 1 or reach 61.8% of the combined length of Waves 1 and 3. According to the analyst, all these scenarios would push XRP’s price “well BEYOND Fib 3!”
It’s important to note that while these projections are based on technical analysis and historical comparisons, cryptocurrency markets are volatile and unpredictable. The analyst includes a disclaimer stating that the information provided should not be considered financial advice.
The time frame for these potential price movements is not explicitly stated, but the analysis looks at a multi-year cycle similar to those observed in Bitcoin and Ethereum.
EGRAG CRYPTO concludes with his usual message to token holders, asking them to stay steady. He described the current cycle as the cycle where XRP will shine. Other experts support this view, as another prominent expert recently predicted that XRP could reach $100 or more soon.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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