Egrag Crypto, a renowned crypto chartist, has come up with yet another timeline for XRP’s price ascent. It is no longer news that Egrag is notable for being among the few who regularly share bullish sentiments on XRP price actions.
In his latest analysis, Egrag predicted a minimum price target of $33 that could ascend above $500, citing historical trends and three triangles formation.
Read Also: State-of-the-Art Machine Learning Algorithm Sets XRP Price for September 30, 2023
Per Egrag, exciting times appear imminent for XRP holders, with mega pumps anticipation playing out soon. The crypto chartist noted, “STAY STEADY, The Mega Pump Awaits. We must stand strong and be mentally prepared as part of the #XRPArmy for the impending mega pump. Exciting times are ahead, and our steadfastness will be rewarded.”
Understanding What Each XRP Trend Triangle Stands For
Egrag’s chart revealed the formation of three different colored triangles. They are green, blue, and white. Each of the triangles implies particular price actions.
The blue and green triangles share similar price trends. According to Egrag, both triangles break out to the upside to establish lower highs.
On the other hand, the white triangle will also break out to the upside, printing pictures that depict higher highs. Summarizing these triangles’ actions, Egrag noted that the blue and green triangles seemed to mimic the present blue and green triangles.
#XRP Three Triangles – Minimum Target of $33:
— EGRAG CRYPTO (@egragcrypto) September 1, 2023
🔷 Blue Triangle:
This pattern breaks out to the upside and establishes Lower-Highs.
🟢 Green Triangle:
Another triangle that breaks out to the upside, forming Lower-Highs.
🔳 White Triangle:
Breaking out to the upside, this… pic.twitter.com/WlzaKdyl2B
Timeline And Route For XRP Potential Ascent
According to Egrag, if the white triangle replicates similar patterns to the former cycle, the price target at $33 would serve as a starting point.
Citing a historical event that occurred between 2017 and 2018, which saw XRP attain approximately $3.1 after spiking by 2069.62%, Egrag predicted that it could be the pattern for XRP after achieving the $33 price mark.
Should the above pattern play out, it implies that XRP would climb to an approximate price high of $693. Per Egrag’s chart, these price movements might play out between 2024 and 2025.
Read Also: Based On Historical Data, Analyst Predicts 634x Surge in XRP Price. Here’s the Timeline
Reactions And Comments From The Crypto Community Members
Accordingly, the crypto community, especially XRP enthusiasts, flooded the comment section of Egrag’s tweet to pour out their frustrations, support, doubt, and criticisms.
A Twitter user who seemed to doubt the possibility of Egrag’s price projection noted that he sees no coming big event of news that could elicit XRP’s rally to Evrag’s projected price targets.
The Twitter user wrote, “I want to ask a serious question, I expect a sincere reply- what news or big event is expected in future or what reason could be there in future for bigger pumps, because the most major news was winning SEC case and it didn’t even cross 1$, what else news could make it possible?”
Meanwhile, XRP’s price today is $0.496530, with a 24-hour trading volume of $869,643,111 and a fully diluted valuation of $49,619,232,724.
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