Ripple XRP was a slow-growing crypto following its court battle with the SEC last year. Despite its sluggish growth, XRP is expected to continue its rise on the charts in 2024, with multiple price predictions showing surges for the token. However, one ripple XRP price prediction has gone viral on X over the past few days, showing that the token can surge by 4,720% this cycle.
Cryptocurrency analyst and well-known XRP bull EGRAG CRYPTO made a thread outlining why he believes the XRP price will increase significantly this cycle. In particular, the bullish prediction believes that anywhere from a 40x to 50x surge is possible. For reference, XRP is trading at $0.5901 at press time. Furthermore, Ripple XRP has seen a massive 220% increase in trading volume in the past week.
According to ECRAG CRYPTO, a 40X surge in XRP could potentially hit around $11, and 50x can see it reach as high as $14. Ecgrag has also shared a discussion with “a top-tier banker,” detailing how bullish XRP can be in the future. According to that banker, holding Ripple’s XRP token “for a decade could yield incredible rewards,” perhaps as high as $2,500 per token.
In terms of an immediate surge, after a big drop this week, XRP has rebounded. With the entire crypto market expected to swing upward in the coming weeks, Ripple XRP price predictions will only grow more positive. While a 4,720% surge seems wild at first glance, other cryptocurrencies have seen big surges and multipliers in the past year.
The Flip Side of The 4,720% Ripple XRP Price Prediction
On the other hand, the technical analysis from the weekly time frame shows a key difference between the bullish XRP cycle in 2017 and the one in 2020. In the 2017 cycle, the XRP price increased by a gigantic 88,000% in a year. It increased by only 1,800% in 2020. 2023 didn’t see a surge like either of those for XRP come close; therefore, it’s hard to support such a surge like Ecrag’s prediction come true.
A descending resistance trend line can be drawn since Ripple’s all-time high of $3.53. While that is breakable with a proper surge, a surge as high as $14 isn’t likely to come for some time. Therefore, the XRP army can be optimistic but shouldn’t expect an XRP explosion in price to come in the coming months.
