Based on Historical Models, Analyst Says XRP Could Spike to $3.3 or $250. Here Are the Conditions

Egrag, a well-known technical analyst and XRP proponent has spotted a probable conditional bullish scenario for the sixth-largest cryptocurrency by market capitalization. Although he made reference to historical patterns and previous XRP price cycles, he submitted that the analyses represent his observations. 

According to a recent analysis, Egrag suggested that XRP could either surge to $3.3 or rally as high as $250, depending on the trajectory the asset follows in the coming weeks or months. This forecasted price performance represents an increase of 482% and 51,000% for XRP.

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Notably, the analyst cited some historical patterns observed in previous XRP price cycles, which he labeled Cycle A and Cycle B, urging XRP enthusiasts and the broader crypto community to study these cycles to better grasp his recent price projections for XRP. 

In Cycle A, which occurred from December 2014 to January 2018, XRP saw a series of price fluctuations before staging a rally toward the $0.013 level in January 2018. Similarly, from November 2020 to April 2021, Cycle B witnessed such changes and a subsequent price upswing. It bears noting that the price rally observed during Cycle A is much higher than in Cycle B. 

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XRP price prediction: $3.3 or $250?

As stated by Egrag, “XRP is still in alignment between ‘A’ & ‘B’ of the previous cycles,” hence his corresponding projections. According to him, if the price of XRP continues to range near the middle of the Gaussian Channel, which represents the $0.41 price level then XRP is more likely to follow the pattern seen in Cycle B. Should this be the case, Egrag predicted that  XRP’s ultimate target would be the $3.3 price level.  

However, if the prevailing XRP price action takes the asset to as low as $0.33 per coin, Egrag suggested that XRP would imitate the previous Cycle A pattern. Thus, he noted that “if XRP drops drastically and goes to the low end of the Gaussian Channel and even lower then it is more prone to behave similarly to Cycle ‘A’ and the imitation of the price action will take XRP to $250.” 

On the whole, the XRP permabull stressed that the $3.3 and $250 predictions are just comparisons between past cycles and not a sure price range. He concluded thus; “I am attempting to anticipate whether we will follow Cycle A and what will happen to XRP price, or if XRP will repeat Cycle B and where the price will be heading. It is not a range from $3.3 to $250. Understand the simple comparison between cycles.”

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