Renowned crypto analyst EGRAG CRYPTO (@egragcrypto) has set the crypto world abuzz with a bold prediction for XRP, envisioning a “mega bounce” that could propel the digital asset to $27.
This forecast comes with a compelling backdrop, as EGRAG CRYPTO suggests that XRP’s previous bull run potential was stifled by the legal tussle with the U.S. Securities and Exchange Commission (SEC). Now that Ripple has three consecutive victories over the SEC and might soon be free of the lawsuit, XRP could be gearing up for a cosmic journey.
#XRP Mega Bounce Is Inevitable – Fib 1.618 ($27):
In the previous #Bullrun, #BTC skyrocketed by 23X and #ETH went up a whopping 58X! 📈📈
However, the #XRP journey hit a roadblock when it was slapped with a lawsuit, putting a pause on the #BullRun. 🛑😞
However, when #XRP… pic.twitter.com/7tDe0yMP0p
— EGRAG CRYPTO (@egragcrypto) October 26, 2023
Read Also: We Asked Google Bard How High XRP Price Would Rise After Ripple-SEC Lawsuit, Here’s What it Said
The Remarkable Trajectory
In his recent post on X, EGRAG CRYPTO draws attention to the incredible growth experienced by cryptocurrencies like Bitcoin and Ethereum during past bull runs. Bitcoin skyrocketed by an astounding 23x, while Ethereum surged an impressive 58x. However, XRP’s trajectory hit a roadblock when it encountered the SEC lawsuit, putting the brakes on its bullish ascent.
However, EGRAG CRYPTO remains undeterred, suggesting that when XRP finally embarks on its next journey, it will unleash its pent-up energy and soar like a shooting star into the cosmic expanse.
A 4800% Potential Gain
The heart of EGRAG CRYPTO’s prediction lies in the remarkable potential for XRP to achieve a “mega bounce” and surge to $27. This astonishing move represents a surge of over 4800% from its current trading price of $0.5464, an opportunity that has investors and enthusiasts eagerly awaiting XRP’s resurgence.
Fibonacci Alignment
What adds a fascinating layer to this prediction is the alignment with the Fib 1.618 retracement level. This level corresponds to the peak XRP reached in 2017 and its bottom in 2020, making it a significant point of interest for traders and chart analysts.
Read Also: XRP to $0.35? Finance Expert Analyzes XRP 5-Wave Pattern Since Ripple Lawsuit Victory
Market Performance
Although XRP is down 0.79% in 24 hours, the weekly performance indicates an increase of over 4%. XRP’s recent attempts to breach the $0.5670 barrier have faced resistance, resulting in a temporary peak at $0.5866 on Tuesday.
However, this led to a subsequent dip in price and a shift from a positive to a negative slope on the daily RSI line, signaling a potential weakening in buyers’ strength. Keep an eye on the daily RSI and RSI SMA lines, as a cross could signify a shift in favor of sellers.
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