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Analyst Identifies Timeline for XRP to Hit $41, Citing Tesla Path with a Factor of 10
Market commentator EGRAG believes if XRP follows Tesla’s price direction from 2018 to 2023, its price could skyrocket 1,667%.
A recent analysis has identified similarities between Tesla’s (TSLA) historical price movements and XRP’s current trajectory, suggesting a major rally could follow its ongoing correction.
Interestingly, this market commentary comes from analyst EGRAG, who believes XRP could mimic Tesla’s path, potentially reaching a price of $41 within the next 91 days. Tesla’s Historical Rally
Market data confirms that in December 2018, Tesla saw a massive price drop after CEO Elon Musk appeared on the CBS program “60 Minutes.” The stock fell to $12 during a corrective phase but later staged a remarkable recovery.
Over the next 912 days, Tesla witnessed an impressive rebound. After reclaiming the previous high of $24, Tesla soared to hit a resistance level of $58 in April 2020. It immediately surpassed this level, claiming a top of $170 by late 2020 and then the ultimate peak of $410 in November 2021.
...XRP Could Follow a Similar Path. . .
According to his projection, following the projected drop to $1.20, XRP could reclaim the $2.4 mark and then soar to $5.6, a new all-time high. Beyond this level, EGRAG expects an XRP rally to $17 before eventually claiming the ultimate $41 target in 91 days.
EGRAG justified the 10X factor by stating that crypto moves faster than stocks, reducing Tesla’s 912-day rally to 91 days for XRP. With XRP currently trading for $2.32, a rally to $41 would demand a massive 1,667% upsurge.
Analyst Identifies Timeline for XRP to Hit $41, Citing Tesla Path with a Factor of 10
Market commentator EGRAG believes if XRP follows Tesla’s price direction from 2018 to 2023, its price could skyrocket 1,667%.
A recent analysis has identified similarities between Tesla’s (TSLA) historical price movements and XRP’s current trajectory, suggesting a major rally could follow its ongoing correction.
Interestingly, this market commentary comes from analyst EGRAG, who believes XRP could mimic Tesla’s path, potentially reaching a price of $41 within the next 91 days. Tesla’s Historical Rally
Market data confirms that in December 2018, Tesla saw a massive price drop after CEO Elon Musk appeared on the CBS program “60 Minutes.” The stock fell to $12 during a corrective phase but later staged a remarkable recovery.
Over the next 912 days, Tesla witnessed an impressive rebound. After reclaiming the previous high of $24, Tesla soared to hit a resistance level of $58 in April 2020. It immediately surpassed this level, claiming a top of $170 by late 2020 and then the ultimate peak of $410 in November 2021.
...XRP Could Follow a Similar Path. . .
According to his projection, following the projected drop to $1.20, XRP could reclaim the $2.4 mark and then soar to $5.6, a new all-time high. Beyond this level, EGRAG expects an XRP rally to $17 before eventually claiming the ultimate $41 target in 91 days.
EGRAG justified the 10X factor by stating that crypto moves faster than stocks, reducing Tesla’s 912-day rally to 91 days for XRP. With XRP currently trading for $2.32, a rally to $41 would demand a massive 1,667% upsurge.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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