The popular cryptocurrency analyst, going by the X (Twitter) handle EGRAG CRYPTO, presented an XRP chart, according to which the asset could spike to a 5-year high of $2.
In the lines below, we will outline the details of the analysis and summarize other predictions from different experts.
‘Brace Yourself for the $2 Range’
EGRAG CRYPTO’s chart depicts five “strategic and profound takeaways” that could help individuals better understand the XRP journey so far.
They spoke about a “ZONE A,” depicting when the asset’s price hovered between $0.00485 to $0.02483. It is worth noting that XRP never crumbled below the “Steel Foundation” ($0.00485 to $0.00596) during previous “brutal bear markets.”
On the other hand, it plunged under the “Steel Foundation” of “ZONE B” ($0.25939 to $1.61880) on three occasions during the ongoing crypto winter.
The analyst argued that the $0.80-$0.85 rage is a “historical battleground” for XRP as it managed to reach that level in mid-July when Ripple secured a partial court win against the US SEC.
EGRAG CRYPTO believes it is “crystal clear” that the next time we witness one monthly greed candle closing above $0.83, “it will mark the birth of the next Steel Foundation.”
“In plain English, you might never acquire XRP for less than $1 in your lifetime,” they assumed.
Subsequently, the analyst said this could act as a catalyst for the asset’s price to surge to the $2 range, and that is where “the FOMO (Fear of Missing Out) phenomenon is poised to ignite like wildfire.”
The Previous XRP Forecasts
Numerous crypto analysts, including Shannon Thorp and Duo Nine, have laid out quite optimistic (to say the least) predictions on XRP’s future valuation. The former envisioned that the asset could skyrocket to the ridiculous level of $500 in the following years based on a report that estimated that the total value of cross-border payments might reach $250 trillion by 2027.
It is safe to assume that this price would remain a mirage since XRP’s market capitalization should blast to approximately $250 trillion for this to happen. In comparison, the entire market cap of the crypto industry was around $3 trillion during the bull market in 2021.
Duo Nine presented a more modest forecast, saying the coin has chances to escape from the $1.30 mark and later surge to its previously-tapped all-time high (ATH) of $3.30 sometime next year.
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