XRP could witness a historic surge, as market analyst EGRAG forecasts a potential price explosion of 9,468% on the back of a “green mega pump.”
Leveraging a recent analysis on X, the market analyst based his prediction on XRP’s historical price movements, which have demonstrated massive pumps in previous market cycles.
EGRAG explained that XRP’s cycle bottom is currently set at $0.28, and from this level, the token could rise to various price targets, each based on its past performance and the current market condition.
Possible XRP Price Scenarios
In his analysis, EGRAG introduced five potential scenarios for XRP’s price trajectory. He breaks down each scenario using color codes, starting with a more conservative outlook where XRP could rise by 932%, bringing the price to $3. This price is slightly lower than the all-time high of $3.31.
The next target from EGRAG, demonstrated with a yellow marking, looks out for a 1,563% price pump, which would push XRP to $4.85. This represents the first price target that would see XRP surpass its current all-time high value.
As the possibilities grow, EGRAG presents a more aggressive scenario where XRP could climb by 2,035%. This scene, which the analyst marks with a red designation, would elevate the XRP price to $6.22.
Pushing further, he forecasts a potential pump of 2,536%, which could take XRP to $7.68. Interestingly, in July, the market analyst asserted that XRP has the potential to clinch the $7 region if it can breach a trendline he dubs the “genuine wake-up line.”
However, the most optimistic scenario in EGRAG’s latest analysis, represented by the green color, predicts a 9,468% surge. In this scenario, XRP could reach an extraordinary price of $27.
EGRAG suggests that his projections use only half of the wick measurement from previous market cycles to avoid the influence of bias from candle formations. This approach makes for a more realistic outlook.
XRP Sees Renewed Interest
The market analyst further recalled a previous move in which he sold part of his XRP holdings when the price reached $1.85, expecting a new high. However, when XRP failed to surpass $1.96, he bought back in at $1.
This experience taught him a lesson about timing and market volatility. This time around, he plans to take a more measured approach, selling small portions of his XRP at each key target rather than holding out for one final peak.
Meanwhile, XRP appears to be seeing a renewal of interest. A report from The Crypto Basic yesterday highlighted a transaction volume of 50 billion XRP tokens, worth $29 billion, over the past month.
In addition, data from CryptoQuant shows a notable resurgence in active XRP accounts. After dropping below 10,000 on Sept. 17, active accounts quickly rebounded to 10,694 the following day.
XRP currently trades for $0.5835, up 1.25% in the last 24 hours, as it fails to capitalize on the latest market uptick.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Source: https://thecryptobasic.com/2024/09/19/analyst-expects-green-mega-pump-to-push-xrp-by-9468-to-27/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-expects-green-mega-pump-to-push-xrp-by-9468-to-27