Monday, June 17, 2024
HomeCryptocurrencyAs FOMO Is About to Hit Hard at $2, Analyst Predicts 6,425%...

As FOMO Is About to Hit Hard at $2, Analyst Predicts 6,425% XRP Rocket Surge to $40

In a recent analysis, prominent crypto analyst EGRAG CRYPTO (@egragcrypto) presented a bold prediction for the future price of XRP, suggesting that the cryptocurrency could surge to a staggering $40.

This ambitious target, which represents a 6,425% increase from XRP’s current value of $0.613, has sparked excitement and skepticism among XRP enthusiasts.

As FOMO Is About to Hit Hard at $2, Analyst Predicts 6,751% XRP Rocket Surge to $40
Source: EGRAG CRYPTO/X

Read Also: Analyst Says $100 XRP Price Is Inevitable, Citing Certain Bitcoin Trends From 2010

The chartist’s prediction is based on a technical analysis of XRP’s price movements on the weekly chart. He points to the formation of an ascending triangle, a pattern characterized by a series of higher lows and a flat upper trendline. This pattern suggests that a significant breakout is imminent, and EGRAG CRYPTO believes that the $2 price level will catalyze this breakout.

According to the analyst, once XRP breaks through the $2 resistance, it could witness a resurgence of FOMO (fear of missing out) and intense buying pressure, pushing the price up to $40, his price target. However, he acknowledges that the current bearish market conditions, triggered by the Binance situation, could pose a short-term challenge for XRP.

At the time of press, XRP is up 5.12% in the last 24 hours, and EGRAG CRYPTO remains optimistic about XRP’s long-term prospects.

He highlights the cryptocurrency’s strong fundamentals, including its significant adoption by financial institutions and its potential to revolutionize cross-border payments. He also points to Ripple Labs, the major distributor of XRP, which has been making significant progress in expanding its partnerships and developing new use cases for XRP.

Read Also: Top Bitcoin Analyst Shows Three Signs of Impending XRP Price Breakout

Community Reactions

EGRAG CRYPTO’s bullish prediction for XRP is not without its critics. One user stated that XRP at $40 would not happen anytime soon, and another claimed that the analyst had never gotten a prediction right, comparing him to a fish out of water flopping.

Another user described Ripple’s CEO Brad Garlinghouse and Ripple’s Chief Technology Officer (CTO) David Schwartz as pathetic, citing the $2 target as useless compared to the effort and resources spent.

<

However, EGRAG CRYPTO’s supporters commended him for his consistent optimism about XRP. The digital asset’s inability to reclaim and surpass its all-time high has left many in the community with doubts about the token’s future.

Ultimately, whether or not XRP will achieve this ambitious target remains to be seen. However, EGRAG CRYPTO’s prediction has given hope to some investors who are willing to stick with the token.


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
RELATED ARTICLES

Latest News & Articles