Renowned cryptocurrency analyst @egragcrypto believes that Ripple’s native token, XRP, is headed for an 800% rise.
He claims that XRP will surge from current levels to $5.50 in just 14 days.
Ripple is preparing for a new rally
Here is @egragcrypto’s prediction: addition This is in reference to the previous forecast made in May. At the time, XRP was trading at $0.4639, with analysts offering three price targets for the coming months: $0.85-$1, $5.5, and $6.1.
Read more: How to Buy XRP and Everything You Need to Know
A few weeks later, a significant event occurred in the Ripple ecosystem, making XRP the only cryptocurrency asset to receive clear status from US regulators. As a result, the token price began to rise, updating the yearly high at $0.93 and achieving @egragcrypto’s first goal.
The chart shows that the next target is around $5.50. Analysts claim that XRP will reach this level within two weeks. He explained:
“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, we can say with high confidence that Fib 1.618 ($5.5 – $6.4) is within reach if it breaks and retests.”
How realistic do these XRP predictions look?
An increase to $5.50 would mean prices would increase by 800% from current levels by the end of the year. However, current fundamentals indicate that the predictions are unlikely to come true.
XRP is currently trading below the first target level of $0.85, but @egragcrypto believes there is a good chance that it will. Massive collapse before rise. analyst Also clearly The forecast was not based on the next two weeks. According to him, “the rally will be completed in just two weeks.”
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