Drawing inspiration from historical trends, Egrag, a top crypto chartist renowned for projecting incredible price spikes for XRP, recently took to Twitter to share a roadmap that could catapult XRP to $400.
Egrag’s newest potential surge in XRP market value, which estimated a mind-blowing 76,800% increase, was tagged, “XRP Bull Market Line! Factor 60X Unveiled.”
#XRP Bull Market Line! Factor 60X Unveiled! 🚀📈
— EGRAG CRYPTO (@egragcrypto) August 27, 2023
The magnificent #Bull Market Line – 1 rang the clarion call for an epic #Bull Run, setting the stage for an exhilarating ride. 📊
Could lightning strike twice? Upon entering the stage #Bull Market Line – 2 & if should it echo the… pic.twitter.com/Lx4p0BrOPz
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Egrag’s Price Projections Stem From Bull Market Lines
Notably, Egrag’s prediction was carved out of bull market lines. Per his XRP price trajectory, the bull market line 1 gave the impression of XRP’s unprecedented rally.
The fixed price mark for bull market line 1 was $0.02. XRP spiked above the $0.02 price level in early 2017 and finally attained the first price target at the $0.43 mark in May 2017.
In the end, XRP climbed to a remarkable $3.35 market value in January 2018. The $3.35 achieved in January remains the digital asset’s highest recorded price since its onset.
Expectations From Exceeding Price Targets For Bull Market Line 2
Egrag pegged the price target for bull market line 2 at $1.2. He noted that conquering the $1.2 price mark for the bull market line 2 would precede another XRP rally that would catapult the digital asset to $40 and $400 price levels.
Taking cognizance of the rhythmic pattern of market cycles, Egrag highlighted a $1.2 to $0.02 ratio, which implies a 60× increment based on calculations. This particular ratio served as the basis for Egrag’s incredible price spike.
Read Also: Forbes: China Just Made a Notable Game-Changing Move That Could Impact XRP Price
Attaining $40 and $400 With XRP Current Price
Per XRP’s data on CoinGecko, XRP’s price at the time of writing is approximately $0.52, implying that an increase to $40 would indicate an increment of about 7,590%.
On the other hand, an XRP market value around the region of $400 would imply a spike of approximately 76,800%.
XRP’s price prediction might seem incredibly ridiculous. Nevertheless, it has historical backing, implying that it stands a chance of playing out in the future.
However, the timeline for it to play out remains grossly uncertain. Readers should take the predictions half-heartedly while doing their research before investing.
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