Analysts predict that XRP prices will pump up 3,000% to $22 in 2024?
Crypto Assets analyst Crypto Egarg provided an update on his recent analysis, predicting that the price of XRP will fall sharply. Egrag correctly predicted this and has now predicted encryption Token's next move.
Egrag mentioned in an X (formerly Twitter) post that the next move for XRP "could be between 1000% and 3000%." He admits that the current market conditions may make it difficult for anyone to imagine such a move for XRP. However, he added that the chart shows that if the historical trend in 2017 or 2021 repeats itself, XRP will rise between pump and $10 to $22.
Egrag also noted that XRP has reached his forecast for encryption Token lower target, suggesting that XRP is well prepared for such parabolic pump as a result of this price correction. In his previous analysis, the analyst had predicted that XRP could fall to $0.44, eventually falling to $0.44 on April 13. Since then, the Token has rebounded and is on track to break through the $0.50 resistance level, ready for a parabolic pump.
Meanwhile, recent analysis by Crypto Assets analyst Lunc Maxi echoes similar sentiments to Egrag Crypto. The Crypto Assets analyst shared a daily chart of XRP and noted that it looks exactly like it did in 2017 and "even has the same falls." If XRP's current price action follows the 2017 trend, then XRP is more likely to hit $22 than just $10, as Egrag's chart shows that a similar move to 2017 will bring encryption Token to that price level.
In a subsequent X post, Egrag stated that XRP could rise to $1.4 in the short term. While acknowledging that prices could fall further fall before the move happens, he added that XRP long bulls have shown that they are willing to withstand selling pressure from short. Therefore, it will not be long before the longest will take control of the situation and cause the XRP price to soar.
He further urged XRP holders not to be intimidated, noting that these price falls "are just opportunities for your bids to be met, and those bids could be life-changing opportunities." Pumping XRP up to such a price level would really change the lives of XRP investors. However, it remains to be seen whether encryption Token will reach such heights, considering that its price action has not been impressive so far.
According to the data, the current XRP is trading at around $0.49, down nearly 4% in the last 24 fall hours.
(Source: Scott Matherson)
