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A cryptocurrency analyst has revealed a time frame for XRP, the native token of XRP Ledger (XRPL) Let’s see a huge rise of 102.590%. If this price rise occurs, the current XRP Modest value It could rise to an impressive level of $500 during this bull cycle, albeit under certain conditions.
Analyst expects XRP to rise by 102,590%
In X (formerly Twitter) mailOn June 10, a cryptocurrency analyst known as “Egrag Crypto” shared a detailed price chart showing when… XRP will rise to all-time highs This is an upward cycle. The analyst predicted a stunning increase in XRP prices, revealing that the cryptocurrency could see a 102,590% rise to a peak price of $500.
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In its price chart, Egrag Crypto revealed that XRP could see a gradual increase in price to $500. He pointed to several Price targets Using different trend lines, highlighting a potential price rise to $6, $20, $60, $180, and then above $500.
The analyst also revealed a slight problem with his ambitious price forecast. From his analysis, he unveiled two main revelations XRP timetables To reach the expected target price, focusing on the possibility of the cryptocurrency following two distinct cycles – the blue cycle and the green cycle.
Egrag Crypto noted that if XRP follows the blue cycle, it will likely see the price rise to its cycle top by July 2024. The blue cycle represents a period of 39 months (1,186 days) during which XRP rose to the cycle top at $1.96. in April 2021, after an all-time high of $3.84 in January 2018.
In contrast, if XRP follows the green cycle, its price may do so Potentially experiencing a breakout To the cycle peak of $500 by May 2025. In this case, the green cycle refers to the 49 months (1,492 days) between the December 2013 peak of $0.0614 and XRP’s all-time high in January 2018.
Egrag Crypto has based its predictions on the patterns generated from them XRP price movements Through different price cycles during previous years. It was revealed that the duration XRP price rises to $500 It was measured from cycle peak to cycle peak, using this approach to set an ambitious target price for the cryptocurrency.
Has the momentum been suppressed by the SEC?
Levi Rietveld, a cryptocurrency analyst, noted in an interview Share X That XRP’s momentum has been suppressed by the SEC for too long. The analyst points out The ongoing legal battle for XRP With the Securities and Exchange Commission, which began in late 2020 when the regulator filed a lawsuit against Ripple, claiming that the cryptocurrency payments company was selling… XRP In an unregistered security offer.
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Despite Ripple’s partial victory yet Judge Analisa Torres It ruled that automated sales of XRP are not considered securities, i.e. the price of the cryptocurrency It is still in a downtrend. Since the beginning of the year, the value of XRP has remained stagnant while other altcoins in the market have risen significantly. As the lawsuit continues, XRP price It still maintains slow momentum, trading below $1 for years now.
As of the time of writing, XRP is at $0.49, reflecting a yield of 1.29%. drop Over the past seven days, according to CoinMarketCap. Cryptocurrency analyst, Egrag Crypto also has Certain The outcome of the SEC’s lawsuit against Ripple will be a deciding factor in the $500 upside price target for XRP. He urged XRP Army To be patient and prepare for July 2024 or May 2025, highlighting that these key dates could change the lives of XRP investors.
Featured image created with Dall.E, chart from Tradingview.com
