XRP Set for a 300% to 30,000% Rally, Technical Analysis Expert Shows

The crypto analyst who accurately predicted XRP to touch the $0.58 level in March has dropped another long-term price analysis on the sixth-largest crypto by market capitalization.

This time around, Egrag expects XRP to enter into a one-of-a-kind uptrend that could take the asset’s value to $144 per coin in 2024 — the year of the fourth bitcoin (BTC) halving. 

Considering a technical indicator dubbed “Kabooom”, the expert analyst said XRP’s next Kaboom could see the asset recording a dramatic pump in price to the tune of either 300%, 3000% or 30,000%. 

Defining Kabooom, Egrag noted that the rare indicator can be spotted on a chart once the 100 moving average (100MA) on a 2-day timeframe crosses the 200 moving average (200 MA) and consecutively crosses the 300 moving average (300 MA).

According to him, the first Kaboom pumped XRP around 47,000% from the cross while the second Kaboom pumped XRP around 700% from the cross. 

Notably, at the current exchange rate of $0.48 per XRP, a 300% increase would take the asset’s value to $1.44 while a 3,000% appreciation would see XRP exchanging hands at the $14.4 level. Accordingly, a 30,000% rally would take the price of XRP to $144. 

While several users doubted this price prediction, Egrag likened his latest XRP forecast to someone predicting in 2011 that BTC would touch $70,000 per coin. Nevertheless, whether this prediction will play out as shared by Egrag or not is only a matter of time.

As published, another expert recently submitted that selling XRP before the end of the lawsuit involving the U.S. SEC and the San Francisco-headquartered cross-border payment firm is the worst possible move.

By implication, XRP could rally high if it is being classified as a non-security by the court, another crypto guru said. Likewise, veteran investor Peter Brandt forecasted XRP to reach $3 by the end of the year. Notably, all of these predictions seem subject to the conclusion in the Ripple-SEC case which is expected this year, according to those familiar with the matter.

Follow us on Twitter, Facebook, Telegram, and Google News