Wild Predictions for XRP Price
XRP has experienced a 1.8% drop in the last 24 hours and is currently trading at $0.48. Based on historical data, it is theoretically possible for XRP price to reach up to $3.3. Furthermore, there is even talk of a target price of $250 per unit. Renowned crypto analyst Egrag has put forward some interesting theories on the subject. According to the analyst, the XRP rally could push the price up to $3.3 or even $250. There are intriguing details behind the analyst's bold prediction.
Egrag highlighted the patterns observed in previous bull cycles. The analyst listed the cycles, referred to as A and B cycles, as potential cycles that could be repeated.
Historical Cycles of XRP
The A cycle, as presented by the analyst, covers the period from December 2014 to January 2018. During this time, XRP experienced significant fluctuations but ultimately saw a substantial increase in price, reaching record highs in January 2018. Similarly, the B cycle encompasses the period from November 2020 to April 2021, during which XRP underwent a significant rally.
The analyst also identified potential bottom points for XRP based on these historical cycles. The analyst stated that the lowest targets are $0.41 and $0.39. If the A cycle repeats, the bottom point could be $0.33. The analyst emphasized that if the price drops to $0.39, the peak point could be $250. This represents an astonishing increase of 51,000%. Currently, investors are eagerly awaiting a break above the $1 resistance level, and there is significant anticipation for a major breakout in the market. However, the uncertainty surrounding the Ripple and SEC lawsuit may hinder the practical realization of these theoretically possible targets.