Crypto analyst EGRAG CRYPTO (@egragcrypto) has suggested that XRP might be on the brink of a substantial 58x surge. Drawing parallels to Ethereum’s past performance, EGRAG CRYPTO highlights XRP’s newfound legal clarity as a significant advantage in this potential journey.
In a post on X, EGRAG CRYPTO presented a chart showcasing Ethereum’s remarkable journey. Ethereum dropped from over $1,400 to just over $80 between January and December 2018. This drop was a challenging period for Ethereum, but it ultimately served as a turning point.
#XRP 58X? Nahhhhhhhhhhhh, you're Delusional:
Allow me to share some insight: In the previous cycle, #ETH achieved a 58X growth despite the controversies surrounding it.
#XRP is poised to make a significant 58X leap, and this marks just the beginning. With legal clarity now in… pic.twitter.com/dlWAhlEjtK— EGRAG CRYPTO (@egragcrypto) October 5, 2023
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Ethereum’s price then embarked on a stunning recovery. Its value saw a 58x increase, from its low of $80.9 to around $4,700 in November 2021. This astounding growth demonstrates the resilience and potential of the cryptocurrency market and backs EGRAG CRYPTO’s belief that XRP will experience a 58x surge.
XRP’s Potential Surge
XRP has already established itself as a prominent digital asset, and EGRAG CRYPTO believes it can replicate Ethereum’s remarkable resurgence. If it follows Ethereum’s historical performance and experiences a 58x rally from its price of $0.5218, XRP could potentially reach a staggering $30.26.
XRP has a history of significant price surges when it is ready to set out. This is the basis of another prediction by EGRAG CRYPTO about an impending surge due to prolonged accumulation. The first XRP surge sent it up by 3x between September and October 2013. Another 2x price surge followed 7 months later.
After that, there was another surge that sent XRP up by 14x. The fourth and final major surge drove XRP up 8x to its all-time high in January 2018. As much as these surges show the potential of the crypto market, they also show how volatile it can be.
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Read Also: XRP Price Abruptly Spiked to $50 On Gemini Exchange. Here’s the Possible Cause
Diverse Perspectives in the XRP Community
It’s interesting to observe the diversity of perspectives within the XRP community. While some XRP enthusiasts believe in lofty price targets like the projected $30.2, others remain skeptical. One user stated that XRP would be lucky to see a 3x surge in the next bull run.
Another user argued that Ethereum’s performance could not be a basis for XRP’s performance. However, EGRAG CRYPTO defended his stance, stating that XRP had a use case, legal clarity, and partnerships. He also highlighted that XRP flipped Ethereum in the previous cycle with a 20% market share.
Although XRP has achieved legal clarity, the journey to a potential 58x rally may not be without its challenges. Cryptocurrencies are known for their volatility, and investors should exercise caution and conduct thorough research before making investment decisions.
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