Popular cryptocurrency analyst EGRAG cryptocurrency has dropped its most optimistic price prediction for XRP. XRP received the following actions: Various price predictions Over the past few months, EGRAG and other cryptocurrency analysts have stated that cryptocurrencies are now free to control their price movements. This time, the analyst claims that XRP is poised to explode 800% in just two weeks, skyrocketing from its current price of less than $0.65 to over $5.50 in just 14 days. EGRAG’s analysis points out price movements and Fibonacci indicators that indicate XRP is gearing up for a massive rally.
Huge surge in XRP price in a short period of time
EGRAG took to social media platform X to reveal his latest predictions for XRP. The forecast comes as an update to the analyst’s previous forecast from May. He shared that the price of XRP is at the final enlightenment line. The Final Wake Up Line was drawn at XRP’s all-time high of $3.40 in 2018 and sloped downward as the cryptocurrency continued to form lower highs. At the time, XRP was trading at $0.4639, and EGRAG outlined three price targets for the coming months: $0.85-$1, $5.5, and $6.1. The analyst also drew a bottom (atlas) line at the higher lows since 2021, forming a symmetrical triangle.
#XRP Medium-term target (0.85c – $1 – $5.5 – $6.4):
The ‘final weather line’ is predicting what’s next #XRP escape. once #XRP Without breaking Fib 0.236 (0.45c) on the weekly time frame, breaking it and retesting Fib 1.618 ($5.5 – $6.4)… pic.twitter.com/xzPMi7b7FN
— EGRAG Cryptocurrency (@egragcrypto) May 22, 2023
Now, five months later, XRP has experienced a major milestone in its ecosystem, becoming the only cryptocurrency asset to receive regulatory clarity in the United States. As a result, XRP experienced price increases on various cryptocurrency exchanges, soaring by more than $0.93 against USDT. According to EGRAG, his first target of $0.85-$1 was completed during the price surge.
XRPUSD currently trading at $0.6231 territory. Chart: TradingView.com
Looking at the price chart shared by EGRAG, it appears that XRP has formed support around this final wake-up call line. Now the next target is around $5.5, which is the measured movement of the symmetrical triangle formed between the final wake-up and the Atlas line. EGRAG claims that we could see XRP trading at this price range in just two weeks.
#XRP 3 goals 🚀🎯:
Are you curious about specific details? Check out our May 2022 post for more details. https://t.co/CGLMB7CgGi
Goal 1: 0.85 – 1$ (complete)
Goal 2: $5.5 (may be achieved in 2 weeks)
Target 3: $6.4 (Fib 1.618 extends wick)#XRPArmy Continue… pic.twitter.com/vTYMwxFbA1— EGRAG Cryptocurrency (@egragcrypto) December 14, 2023
How realistic is this price prediction?
XRP has since fallen below the analyst’s first target of $0.85. As of this writing, XRP is trading at $0.62, down 9.59% in 7 days. EGRAG argued that the recent price correction may have investors jumping ship, but HOLDing is still the best decision at this point.
A surge to $5.5 would mean an 800% price increase from current levels by the end of the year. but, Current base point It is highly unlikely that an increase of this magnitude can occur in such a short period of time.
EGRAG made clear in its comments that its forecasts were not based on the next two weeks. Instead, the $5.5 rise will be completed in just two weeks.
All of this movement will be completed in the next two weeks, not the next two weeks. 👍
— EGRAG CRYPTO (@egragcrypto) December 14, 2023
Featured image from Shutterstock
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