Analyst projects ‘mega bounce’ and ‘fireworks’ for XRP;
An analysis shared by market EGRAG on X,predicts a rally in the beginning of next year.This surge has the potential to push the cryptocurrency to reach the $27 price mark, signifying a significant increase of approximately 4,853% from its current value.
EGRAG’s projection,draws historical patterns observed during previous bull markets.The analyst highlights the past bull run witnessed Bitcoin (BTC) surging by 23 times, while Ethereum (ETH) saw a remarkable 58-fold increase.He underscores that XRP also has the potential to achieve similar gains,but has faced resistance due to price suppression from the lawsuit
XRP,ranks fifth by market cap and is currently priced at $0.54,has been a top player in the cryptocurrency market over a decade
XRP has demonstrated resilience and delivered notable returns for investors.
Over the past 12 months,the token experienced a remarkable surge of 24%.This performance means it has outperformed 76% of the top 100 cryptocurrency
In 2021,XRP struggled to gain momentum.EGRAG attribute this bearishness in 2021 to lawsuit, which led to a halt support for XRP,having received legal clarity following Judge Analisa Torres’s ruling on July 13,EGRAG believes the asset is poised for a significant upswing.
EGRAG predicts a potential 40-fold increase for XRP
The first major resistance level on the chart is at $3.3, coinciding with XRP’s ATH in January 2018.Surpassing this resistance would set XRP on a course to establish new all-time highs,the next resistance at the$5.5 price point,representing the next macro resistance that XRP would need to overcome during its rally.
Breaking through the $5.5 price level would bring the $13.3 resistance into play, situated at the Fibonacci level at 1.414 level. Conquering this level is crucial for XRP to reach the coveted $27 price point.The history of XRP’s price has seen remarkable highs,The future in 2023 remains uncertain,hinging on the final result of the case,which won’t be a simple process.
