Analyst Predicts XRP Price Will Rise 800% To $5.5, The Timeframe Will Shock You
Popular crypto analyst EGRAG crypto has dropped what looks like the most bullish price prediction for XRP. XRP has been subjected to various price predictions in the past few months from EGRAG and other crypto analysts, as the crypto now has free rein on its price movement. This time, the analyst claims XRP is ready to explode 800% in just two weeks, rocketing from under $0.65 today to over $5.50 in just 14 days. EGRAG’s analysis pointed to price movement and the Fibonacci indicator, indicating XRP is gearing up for a huge rally.
Massive XRP Price Surge In A Short Time
EGRAG took to social media platform X to reveal his latest prediction about XRP. The prediction came as an update to the analyst’s earlier prediction in May, where he shared that XRP’s price was at the final wake up line. The Final Wake Up Line was drawn from XRP’s all time high of $3.40 in 2018, sloping downwards as the crypto continued to form lower highs. At that time, XRP was trading at $0.4639 and EGRAG gave three price targets of $0.85 to $1, $5.5, and $6.1 in the coming months. The analyst also drew a bottom (Atlas) line on higher lows since 2021 to form a symmetrical triangle.
#XRP Mid-Term Target (0.85c – $1 – $5.5 – $6.4):
The ‘Final Wake Up Line’ is gauging the next #XRP breakout. Once #XRP breaks it and retest it without breaking Fib 0.236 (0.45c) on the Weekly Time frame then I can say with high degree of certainty that Fib 1.618 ($5.5 – $6.4)… pic.twitter.com/xzPMi7b7FN
— EGRAG CRYPTO (@egragcrypto) May 22, 2023
Now five months after, XRP has had major events in its ecosystem, becoming the only crypto asset to receive regulatory clarity in the US. As a result, XRP went on a price growth that led to a spike over $0.93 against USDT on various crypto exchanges. According to EGRAG, his first target of the $0.85 to 1$ was completed amidst the price spike.
XRPUSD currently trading at $0.6231 territory. Chart: TradingView.com
A look at the price chart shared by EGRAG reveals XRP seems to have formed a support around this final wake-up line. Now, the next target is around $5.5, a measured move of the symmetrical triangle formed between the final wake up and atlas line. EGRAG claims we could see XRP trade at this price point in just two weeks.
#XRP 3 Targets 🚀🎯:
Curious about the specifics? Check out the May 2022 post for all the details:https://t.co/CGLMB7CgGi
Target 1: 0.85 – 1$ (Completed)
Target 2: $ 5.5 (Might be achieved in two weeks)
Target 3: $ 6.4 (Fib 1.618 will be extended wick)#XRPArmy STAY STEAD and… pic.twitter.com/vTYMwxFbA1— EGRAG CRYPTO (@egragcrypto) December 14, 2023
How Feasible Is This Price Prediction?
XRP has since fallen below the analyst’s first target of $0.85. At the time of writing, XRP is trading at $0.62, down by 9.59% in a 7-day timeframe. EGRAG argued that the recent price correction could make investors jump ship, but HOLDing is still the best decision at this moment.
A surge to $5.5 would mean an 800% price gain from the current level before the end of the year. However, current fundamentals points to an increase of this magnitude in such a short timeframe being very unlikely .
EGRAG clarified in a comment that the prediction wasn’t based on the next two weeks. Instead the rally to $5.5 would be completed in just a two week timeframe.
Not within the next 2 weeks but in 2 weeks duration all this move will be completed. 👍
— EGRAG CRYPTO (@egragcrypto) December 14, 2023
Featured image from Shutterstock
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