The XRP price is up around 2.5% this week and is now trading above the $0.54 area. What’s more interesting for Ripple’s token is that it still has a huge community, with many elite crypto analysts making viral XRP price forecasts.
One of them is EGRAG CRYPTO, who posted a new XRP price prediction today via his X (formerly Twitter) account.
Breaking Down EGRAG’s Bold XRP Analysis
The analyst’s detailed chart shows two distinct macro consolidation zones, labeled as “Area A” and “Area B.” According to EGRAG, XRP previously consolidated in Area A before experiencing a significant drop into what he calls “Drop Zone A.” Now, as the token trades in Area B, the analyst suggests another major XRP price movement could be on the horizon.
EGRAG identifies $2 as a crucial trigger point for XRP’s potential upward movement. His analysis suggests that if XRP breaks above this level, it could catalyze a surge toward $15, which he considers a minimum target. Even more intriguingly, the analyst predicts potential further consolidation between $15 and $115, in what he terms “Area B*.”
#XRP MACRO DROP ZONE ( $15 or 10X of $15!!!)Ok, first things first… Don’t shoot the messenger, I’m just here to talk about gravity—and it’s about to get heavy! The Drop Zone analogyArea A was our MACRO consolidation, where #XRP was chilling. But then, it got pulled… pic.twitter.com/0V5NCXtvTI
— EGRAG CRYPTO (@egragcrypto) October 20, 2024
In his analysis, EGRAG draws attention to volatility comparisons. The projected move from $15 to $115 would represent a volatility of 666.67%, notably lower than a previous surge from $0.15 to $2, which saw 1233.33% volatility. This comparison suggests that while significant price appreciation might occur, it could happen with relatively less market turbulence than previous rallies.
The analyst’s monthly chart, spanning back to 2014, maps out these consolidation zones and potential “drop zones,” using historical data to support his macro analysis. These zones, marked by dark blue horizontal bands, represent areas where XRP has shown significant price activity in the past.
Historical drops and bounces are marked, suggesting that the previous consolidation in Area A led to a significant downward move to Area B. The same logic applies to a future upward move toward $15 and potentially $115.
Read also: Solana (SOL) Price Explosion Imminent? Key Levels Hint at a Significant Upswing
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post Elite Analyst Makes Shocking XRP Price Prediction: Could $15 Be Next For Ripple’s Token? appeared first on CaptainAltcoin.
