As the cryptocurrency market approaches a new cycle, discussions around XRP’s potential gains have intensified. A recent post by crypto analyst EGRAG CRYPTO (@egragcrypto) has suggested that XRP’s growth could surpass its previous cycle performance, despite significant challenges.
The analyst believes XRP can achieve a 40x surge in the next bull run, and anything short will be a sign of market manipulation. However, some in the community are skeptical, and the digital asset’s chances to achieve this depend on historical performance and current conditions.
Historical Performance and New Regulatory Clarity
EGRAG CRYPTO drew attention to the digital asset’s performance in 2021 when it rose to $1.96. In the last cycle, XRP achieved a 20X price increase, a remarkable feat given the legal challenges it faced due to the SEC lawsuit.
Now that Ripple has gained what the analyst called unbeatable regulatory clarity, he is confident that XRP could be positioned for a 40X to 50X surge. EGRAG CRYPTO expects this surge to come from the digital asset cycle bottom of $0.28, and a 40x surge would send it to $11.
A 50X surge would place XRP at $14, marking a substantial return for long-term holders. This projection aligns with other predictions by notable analysts. It also reflects the broader optimism among XRP supporters, who believe that regulatory clarity will allow the cryptocurrency to achieve previously unattainable growth.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Can XRP Beat the Top Cryptocurrencies?
Comparisons with other major cryptocurrencies further illustrate XRP’s growth potential. EGRAG CRYPTO highlighted that in a prior cycle, Ethereum achieved a 58X multiplier, which would suggest an XRP price of around $16.
Although Ethereum and XRP differ in use cases and ecosystems, such a comparison demonstrates how significant price appreciation can be in the crypto market, especially for established assets with dedicated communities and robust market presence.
Furthermore, Bitcoin’s previous cycle saw a 21X multiplier. If XRP’s next cycle performance aligned only with Bitcoin’s historical performance, it would reach approximately $5.88.
While this figure falls short of the 40X projection, it is still much higher than the digital asset’s all-time high of $3.84. It would still mark an impressive return relative to XRP’s historical performance.
The Possibility of Extreme Price Growth
One of the most optimistic scenarios presented by EGRAG CRYPTO posits that XRP could theoretically reach $27, representing a 96X increase from the cycle bottom. While reaching this level would be unprecedented, it is not entirely implausible.
The potential removal of SEC Chair Gary Gensler and the digital asset’s potential appeal as a remittance and payment solution for cross-border payments lend support to such lofty targets.
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.
Follow us on Twitter, Facebook, Telegram, and Google News
