Market Expert Makes Case for XRP 40x Surge to $11

In a recent post, market analyst EGRAG made a compelling case for XRP potential to experience a significant surge, projecting a 40x increase from cycle low to $11.

EGRAG drew parallels with the last market cycle, highlighting that despite the SEC lawsuit’s overhang, XRP managed to surge nearly 20x. Notably, in the previous cycle, XRP rallied from the cycle low of $0.114 in March 2020 to a high of $1.966 in April 2021 amid the lawsuit.

XRP has now secured non-security status following the pivotal July 2023 ruling. With the current improved regulatory environment, EGRAG projects the possibility of an even more substantial surge in the coming bull run, reaching a potential 40x or even 50x.

#XRP 40X EASY:

Last cycle, despite the pesky #SEC lawsuit, #XRP surged almost 20X. This time, with its unparalleled legal regulatory clarity, the potential for a 40X or even 50X boom seems promising!

Let’s crunch some numbers from the cycle low to visualize the possibilities:… pic.twitter.com/SayC9gsJkv

— EGRAG CRYPTO (@egragcrypto) January 3, 2024

To visualize these possibilities, the analyst attempted to present a breakdown of XRP’s potential values if it appreciates by certain projected rates. Notably, he leveraged XRP’s lowest value of $0.28 in this cycle as his starting point. XRP dropped to the $0.28 price in June 2022.

XRP Price Projections

In his first projection, the analyst called attention to a potential 40x increase from the bottom price of $0.28. Such a surge could see XRP reach around $11, presenting a significant upside for investors.

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Secondly, he took a step further, looking at a more ambitious appreciation rate. EGRAG emphasized that should XRP surge further, hitting a 50x increase, this move might propel the crypto token to approximately $14, offering an even more optimistic scenario.

The third projection draws a comparison with Ethereum’s previous cycle increase of 58x. Note that in the last cycle, ETH rallied 5,419% from a low of $88.2 in March 2020 to its all-time high of $4,868 in November 2021. According to EGRAG, if XRP replicates a similar surge from $0.28, it could hit $16.

In the last projection, the analyst called attention to Bitcoin’s performance in the previous cycle. BTC, the premier crypto, championed the last bull run, surging to a high of $69,000 in November. 

EGRAG stressed that if XRP recorded a similar appreciation rate to what Bitcoin witnessed during the previous cycle, the altcoin could rally 21x. A 21x increase from the current XRP cycle low of $0.28 would result in a price of $5.88, a new ATH for XRP.

A Compelling Case for XRP’s Potential

The analyst’s latest disclosure drew inspiration from an analysis of XRP in March 2023. EGRAG’s reasoning is that if Bitcoin and Ethereum could record massive surges of 58x and 21x, then XRP, which recently attained legal clarity, is capable of seeing a similar price appreciation.

Meanwhile, in the short term, XRP did not escape the latest market-wide onslaught. The crypto token collapsed to a 3-month low of $0.50 on Jan. 3 amid the market slump. Despite the immediate recovery, XRP remains below $0.60, currently changing hands at $0.5759.