Bullish predictions for XRP price are back, even with Bulls Struggling to Push Crypto On the price increase. EGRAG, a cryptocurrency expert, has one positive prediction, that is Price increase Of great magnitude. According to a recent post by an analyst on social media, XRP may reach the $4 price level in the long term.
Crypto analysts predict 700% bullish XRP price action
XRP has experienced a slight drop in value over the past few days as the entire crypto market is consolidating into price action. XRP’s price movement this year has disappointed many of its ardent enthusiasts, especially considering the fact that Still to hit the $1 mark As predicted by many analysts.
Data from Coinmarketcap now shows XRP It is found bouncing around itself After retesting $0.435 on April 13 at the $0.51 price mark. However, according to EGRAG, this is set to change soon.
EGRAG, known for its very bullish stance on XRP, recently noted in its analysis that the current XRP price movement mimics the 2021 move that saw it rise to $1.8. According to its analysis, EGRAG has divided the price outlook into two segments, blue and yellow, each representing a mirror image of the 2021 price movements.
#XRP Imitating 2021 – Move:
Blue segment: The current trajectory suggests the possibility of reaching $1.4 by June-July, a key target. A price range between ($1.2 – $1.8) is a plausible target.
Yellow segment: Following the same path as 2021, it is possible to target $4.… pic.twitter.com/BMUJSbb5GQ
— EGRAG CRYPTO (@egragcrypto) 25 April 2024
The blue segment is a narrow price path that suggests XRP may reach $1.4 by June or July, with a price range between $1.2 and $1.8. Meanwhile, the yellow segment is a more bullish price path. According to the analyst, XRP could reach the $4 price level by June or July if it follows the yellow segment of the 2021 movement. Interestingly, a rise to the $4 price level will push the price of XRP to a new all-time high.
What’s next for XRP?
EGRAG is one of the many crypto analysts that are still around Bullish on XRP’s price path. His Long-term price projections At $27 for XRP, he believes it is still viable. At the time of writing, XRP is trading at $0.5148, down 16.8% in the last 30 days.
That means to reach $4 in July, the bulls would have to see the crypto rally 677% in less than three months. Although the volatile nature of the cryptocurrency suggests that this price move is possible, current market dynamics point to modest XRP price gains.
on the other hand, On-chain metrics A bullish sentiment is evident returning to XRP. Notably, XRP wallets hold at least 1 million coins growing recently, Which can be an indication of price increase.
XRP at $0.51 | Source: XRPUSDT on Tradingview.com
Featured image from Coinpedia, chart from Tradingview.com
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