Crypto analyst EGRAG has expressed his strong belief in the XRP’s potential to outperform Bitcoin and reach significant price targets during the current market cycle.
In a recent post, EGRAG emphasized his conviction that the XRP/BTC ratio could reach unprecedented highs, exceeding its current level of 0.000010. He suggests a target of 0.000137, which translates to an XRP price of approximately $7, a fantastic 1193% rally, assuming Bitcoin remains above $50,000.
Read Also: ChatGPT XRP Price Predictions for 2024, 2028, 2032, and 2050
This bullish prediction follows EGRAG’s previous analysis, where he outlined potential scenarios for XRP based on Bitcoin’s price movement. However, he acknowledges that his earlier predictions for negative scenarios ultimately came true. He said, “Sometimes, I can’t help but feel frustrated with myself for foreseeing the worst-case scenario, only to see it unfold before my eyes.”
The analyst drew a parallel between the current market conditions and the late 2017 to early 2018 period, when XRP experienced explosive growth, significantly outperforming Bitcoin (BTC).
During that timeframe, XRP surged by 1,550% within five weeks, reaching a peak of $3.84, while Bitcoin only saw a 40% increase. While not guaranteeing an exact replication of this historical trend, EGRAG suggests the possibility of a similar surge for XRP soon, with the potential for short-term volatility before a sustained bullish run.
EGRAG also acknowledged the frustration experienced by XRP holders due to repeated unfulfilled bullish predictions and offered words of encouragement. He assured the XRP Army of a glorious end. Although the road might be rough, he urged them to keep believing in the XRP prospect.
Furthermore, when asked about his most optimistic price prediction for XRP during the market peak, EGRAG expressed his belief that $27 is achievable.
Read Also: Ripple and Whale Move Millions of XRP To Certain ODL Partner, Sparking Selloff Concerns
It is essential to know that while the cryptocurrency market often revolves around Bitcoin’s movements, XRP possesses unique factors that could significantly impact its future trajectory. One crucial element is the ongoing legal case between Ripple and the SEC. As we reported earlier, the ongoing legal battle has reached a critical point.
With the final resolution proposals submitted, crypto enthusiasts patiently await the lawsuit outcome as it holds the power to shape XRP’s regulatory landscape and ultimately influence its widespread adoption within the financial sector.
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Taipei, Taiwan, 19th June 2024, Chainwire
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