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Crypto Analyst Predicts Massive 8,400% Rise For XRP Price To $44, Calls It ‘Conservative’

Sergio Gruber by Sergio Gruber
October 9, 2024
in Crypto, News
Reading Time: 2 mins read
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Crypto Analyst Predicts Massive 8,400% Rise For XRP Price To $44, Calls It ‘Conservative’
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XRP Price To Reach $44

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Renowned crypto analyst, Egrag Crypto, has forecasted a significant rise in the XRP price, suggesting a potential increase of 8,400% to reach a price of $44. This prediction is based on the current market cycle analysis and the application of the Fibonacci Channel, marking $44 as a ‘conservative’ target. Additionally, the analyst has identified other potential price points of $13 and $27, which correspond to the Fib 0.5 and 0.618 channels, respectively.

Exploring Market Dynamics

According to Egrag Crypto, the XRP market has shown potential for substantial growth due to historical chart patterns that indicate possible price surges to the identified Fibonacci Channel levels. The analyst maintains that these targets are feasible within the current bullish market cycle and emphasizes that the $44 target is conservative, hinting at the potential for even higher gains. Other analysts, such as Javon Marks, have suggested that XRP might reach three-digit valuations, with Marks predicting a possible surge to $200.

Long-Term Prospects

Javon Marks provides further insights, noting that XRP has recently exited a Pennant pattern that persisted for over six years. This breakout, combined with a Logarithmic Follow-Through, could propel XRP to remarkable heights, potentially reaching $200—a massive gain of over 30,000%. In the short term, Marks anticipates XRP hitting $3.3, approaching its previous all-time high of $3.8. He attributes this prediction to the confirmation of multiple hidden bullish divergences since 2022, suggesting a substantial bullish breakout on the horizon.

Potential Short-Term Gains

Marks projects a short-term price appreciation of over 450% as XRP approaches the $3.3 range. This anticipated breakout could merely be the beginning, as Marks firmly believes in the cryptocurrency’s potential to eventually achieve the $200 milestone.

The Worst Case Scenario

While optimism prevails among analysts, Egrag Crypto has also outlined a more conservative scenario for XRP’s performance in the current market cycle. He posits that XRP will at least reach prices between $2.3 and $5.89. Egrag Crypto provides two key reasons for this outlook: firstly, XRP’s historical performance demonstrated a tenfold increase from its lowest point following the resolution of the US Securities and Exchange Commission (SEC) lawsuit in December 2020. Should a similar scenario arise post-SEC appeal, XRP could easily climb to the $5 range, potentially touching the Fib 1.618 level at around $6.5.

Price Correlation with Bitcoin

Furthermore, Egrag Crypto suggests that if Bitcoin’s price ascends to $80,000 and $100,000, XRP could reach $2.31 and $2.88, respectively. He anticipates that XRP will mirror Bitcoin’s movements, as observed during the 2021 bull run, highlighting the interconnectedness of these cryptocurrencies.

In summary, the predictions for XRP’s price trajectory vary significantly, with analysts like Egrag Crypto and Javon Marks offering insights into both conservative and ambitious outcomes. As the market continues to evolve, investors and enthusiasts alike will keenly observe XRP’s performance in the coming months.

Tags: analystcryptocrypto analystCrypto newsrippleripple newsxrpxrp newsXRP PriceXRPUSDxrpusdt
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Sergio Gruber

Sergio Gruber

Financial writer Hello, my name is Sergio Gruber and I am a finance editor with a specialization in blockchain and cryptocurrency. I have a deep understanding of how the financial world is being transformed by these exciting technologies.I received my degree in Finance Editing from Western Washington University, where I learned how to combine my passion for writing and financial analysis. Since then, I have worked with a number of high-profile publications, helping to educate and inform readers about the latest developments in the world of blockchain and cryptocurrency.

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