One cryptocurrency analyst has predicted a massive rise in the price of XRP, predicting that the cryptocurrency will see an increase of more than 600%. Despite its historically slow growth, XRP is starting to gain momentum, showing the potential for significant price growth during the 2024 uptrend.
The price is expected to rise above $5
A cryptocurrency analyst known as Egrag Crypto took to X (formerly Twitter) to predict a massive surge in XRP prices. According to Egrag Crypto, XRP is “guaranteed” to see a 600% to 1,000% increase to new all-time highs of around $5.5.
Basing his forecast on historical data for XRP from 2017, the analyst shared a chart showing the price movements of XRP over the years. He investigated the lower and shorter minimums of cryptocurrency price pumps observed when the 21 Exponential Moving Average (EMA) crosses the 55 Exponential Moving Average (MA).
The cryptocurrency expert revealed that in 2017, the altcoin saw a huge price rise of approximately 902.85%, pushing its price to $0.0646 at the time. Around 2021, the cryptocurrency registered another surge, rising by about 585.29% to trade above the $1 price mark.
Following historical trends, XRP is expected to see a significant rise of 585.20%, reaching a price level of around $3.26 in 2024. The analyst has revealed that if XRP can achieve a 900% or 585% price pump, it will likely rise Even plus $5.5 or $4 respectively.
On the other hand, Egrag Crypto revealed that if XRP fails to achieve the all-time high of $5 to $10 during the 2024 bull cycle, the cryptocurrency may not see an upward rally until the next bullish wave. Despite this, the analyst remained confident that XRP could post triple-digit gains and reach all-time highs soon.
When will XRP see its price rise to $5.5?
When asked by a member of the cryptocurrency community about the timeline for the price of XRP to rise to $5.5, Egrag Crypto boldly asserted that the bullish period falls between April and July 2024. He urged the XRP Army to prepare for this potential bullish period. , focusing on the strong belief that XRP will rise to unprecedented levels.
Despite its recent price decline, sentiment surrounding XRP has remained positive, with many cryptocurrency analysts predicting bullish price movements for the cryptocurrency. At the time of writing, XRP is trading at $0.61, reflecting a decline of 1.77% over the past 24 hours and 3.93% over the past week, according to CoinMarketCap.
While the cryptocurrency has successfully cleared the resistance levels above $0.5, it is still far from surpassing its all-time high of $3.84 recorded in 2018.
