The Potential Rise of XRP to $2: Analysis and Predictions
The cryptocurrency analyst known as EGRAG CRYPTO on Twitter has presented a chart for XRP, suggesting that the asset could potentially reach a 5-year high of $2. In this article, we will delve into the details of the analysis and summarize predictions from other experts.
EGRAG CRYPTO’s Analysis: Understanding the XRP Journey
EGRAG CRYPTO’s chart highlights five key takeaways that can provide individuals with a better understanding of XRP’s trajectory so far. They identify a zone called “ZONE A,” which represents a price range of $0.00485 to $0.02483. It is noteworthy that XRP has never fallen below the “Steel Foundation” ($0.00485 to $0.00596) during previous bear markets.
However, during the ongoing crypto winter, XRP has dipped below the “Steel Foundation” of “ZONE B” ($0.25939 to $1.61880) on three occasions. This highlights the significance of this price range as a critical level of support for XRP’s price.
The analyst argues that the range of $0.80 to $0.85 holds historical importance for XRP. In mid-July, when Ripple successfully secured a partial court win against the US SEC, XRP managed to reach that level. EGRAG CRYPTO believes that if XRP experiences one monthly greed candle closing above $0.83, it will mark the birth of the next Steel Foundation. They express the belief that XRP might never be acquired for less than $1 in the future.
According to EGRAG CRYPTO, this potential milestone could act as a catalyst for the price of XRP to surge to the $2 range. They suggest that this could trigger a FOMO (Fear of Missing Out) phenomenon, leading to a significant increase in demand for XRP.
Previous XRP Forecasts
Other crypto analysts, such as Shannon Thorp and Duo Nine, have also made optimistic predictions about the future valuation of XRP. Shannon Thorp speculated that the asset could reach as high as $500 based on a report estimating the total value of cross-border payments to reach $250 trillion by 2027. However, it is important to note that this price seems unlikely given the massive market capitalization required.
Duo Nine presented a more conservative forecast, suggesting that XRP has the potential to surpass the $1.30 mark and eventually reach its previous all-time high (ATH) of $3.30 sometime next year.