EGRAG CRYPTO (@egragcypto), a popular cryptocurrency analyst and XRP supporter, recently presented an update to his previous analysis regarding the potential price movements of XRP. This analysis centers on the concept of the “Line of Hestia,” a price level at which XRP has historically experienced significant price increases.
The Line of Hestia and Historical Performance
The core argument behind the analysis is that whenever the price of XRP touches the Line of Hestia, it triggers substantial price surges. The Line of Hestia is an ascending trendline, and XRP has stayed above this level since 2017. EGRAG CRYPTO cites historical data to support this claim, highlighting instances where the price increases ranged from 6,600% to 171%.
Read Also: XRP to $288? Analyst Makes Compelling Historical References
To further substantiate his argument, EGRAG CRYPTO calculates the average increase observed in these historical instances. The calculation involves averaging the five provided percentages (6,600%, 1,444%, 100%, 80%, and 171%), resulting in an average increase of 2,969%.
He then applied the average increase to XRP, predicting it as a potential range for XRP’s future rally. The methodology assumes a baseline price and calculates a new price based on the following formula:
New Price = Old Price x (1 + Percentage Increase)
Price Targets Based on the Analysis
With many wondering if XRP will miss out on the 2024 bull run, EGRAG CRYPTO applies the aforementioned formula to a starting price of $0.5. This calculation produces the following potential price targets:
6,600% increase: $33.5, 1,444% increase: $7.72, 100% increase: $1.00, 80% increase: $0.9, 171% increase: $1.36, and Average Increase (2,969%): $15.35.
EGRAG CRYPTO concludes the analysis by urging the XRP community to remain calm and collected as he believes all the mentioned price targets are achievable.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Top Analysts Sees Stellar (XLM) Bull Run, Sets $3.5 Price Target
Can XRP Reach $33.5?
EGRAG CRYPTO based his analysis on historical data. It is crucial to remember that the cryptocurrency market is volatile, and future price movements may not precisely align with these predictions.
However, this analysis is based on sound technical principles and presents an interesting perspective on XRP’s potential price trajectory. Although $33.5 is a lofty target, XRP has surged more than 6,600% in the past. In 2017, XRP climbed by over 65,000%, and another prominent analyst believes XRP can recreate that rally, potentially surpassing EGRAG CRYPTO’s targets multiple times over.
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