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XRP price surges! Analysts boldly predict a rise to $6 by the end of the year!
Market analyst EGRAG, based on Bifrost bridge analysis, predicts the price trend of XRP.
Recently, XRP has seen significant growth, with a bullish outlook.
In November 2024, XRP's monthly increase was 283%, the largest in seven years. In December, it rose another 26.4% in the first 12 days.
EGRAG compares to 2017 and believes XRP could reach $6 or $27.
Interpreting price targets:
EGRAG predicts based on Fibonacci retracement and historical patterns. In March 2017, XRP rose by 150%; in May, it rose again by 1330%. He believes XRP may replicate this trend, potentially reaching $4.3 to $6.4 by the end of the year. In January 2025, a significant rise could occur, with prices reaching $13.7 to $27.3.
Addressing market cap concerns:
People question XRP's market cap and liquidity. EGRAG points out that the total market cap of the cryptocurrency market in 2017 was $60 billion, increasing to $3.7 trillion in 2024. If this multiplier is applied to XRP, its market cap could reach $900 billion, needing to capture 9% to 18% of the market share. Considering XRP's applications in areas like cross-border payments, this goal is feasible.
Ripple CEO predicts the total market cap could reach $5 trillion. Currently, XRP's price is $2.34, with a market cap of $133 billion and a market share of 3.59%. If it recovers the 31% market share of 2017, the market cap could exceed $1 trillion.
The prediction emphasizes XRP's growth potential, needing to maintain momentum and market relevance.
EGRAG's analysis shows XRP could reach $6, or even $27, warranting close attention.
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