One cryptocurrency analyst has predicted a significant jump in the price of XRP, predicting that the cryptocurrency will witness a price increase of more than 600%. Despite historically slow growth, XRP is starting to gain momentum and shows the potential to experience significant price increases during the 2024 bull market.
Price is expected to exceed $5
A cryptocurrency analyst who calls himself Egrag Crypto predicted an exponential rise in the price of XRP on X (formerly Twitter). According to Egrag Crypto, XRP is “guaranteed” to rise 600% to 1000% and hit a new all-time high near $5.5.
The analyst shared a graph showing the price movement of XRP over the years, based on predictions based on historical data of XRP in 2017. He elaborated on the minimum and shortest price spike for cryptocurrencies observed when the 21 Exponential Moving Average (EMA) crosses the 55 Moving Average (MA).
Cryptocurrency experts revealed that in 2017, the price of altcoins experienced a significant increase of about 902.85%, with the price at that time rising to $0.0646. Around 2021, the cryptocurrency recorded further gains, surging around 585.29% and trading above the $1 price mark.
Following historical trends, XRP has experienced a significant appreciation of 585.20% and is expected to reach a price level of approximately $3.26 in 2024. Analysts revealed that if XRP can achieve a 900% or 585% price pump, it could potentially rise even further. Plus, they cost $5.50 or $4 each.
Conversely, Egrag Crypto believes that if XRP fails to reach all-time highs of $5 to $10 during the 2024 bull cycle, the cryptocurrency may not experience a bullish surge until the next bull market. I made it clear that. Nevertheless, analysts remain confident that XRP could achieve triple-digit gains and reach all-time highs soon.
When will XRP witness a $5.5 price spike?
When asked by a member of the crypto community about the timeline by which the price of XRP could rise to $5.5, Egrag Crypto boldly asserted that the window of increase is between April and July 2024. did. He urged the XRP forces to prepare for this potentially bullish period. , emphasized their strong belief that XRP will soar to unprecedented heights.
Despite the recent price drop, sentiment surrounding XRP remains positive, with many crypto analysts predicting bullish price movements for the cryptocurrency. At the time of writing, XRP is trading around $0.61, reflecting a decline of 1.77% over the past 24 hours and 3.93% over the past week, according to CoinMarketCap.
Although the cryptocurrency has managed to break through the resistance level above $0.5, it is still far from surpassing the all-time high of $3.84 set in 2018.
