Analysts see XRP could rise 10,000% in the month to $26.9

In his XRP analysis, famous chartist EGRAG pointed out that the cryptocurrency could rise by 10,000% and reach $26.9 per year.During the formation of a descending channel.

This happened when XRP experienced the following issues: persistent downward trend Due to bearish market environment. EGRAG revealed in the attached monthly chart that the crypto asset has continued to record monthly declines since it crashed from a high of $1.96 in April 2021.

These sustained monthly declines have created a downward channel. However, analysts emphasized that this phase of XRP's downward momentum is not over yet and claimed that the token will record another price crash.

XRP may fall further

According to him, the worst-case scenario for XRP would be for the cryptocurrency to collapse another 40% or 72%. If something like this happens, XRP It could fall to the $0.24 level, the lowest price level since January 2021.

Nevertheless, EGRAG believes that this price collapse is only temporary. He argued that the expected downturn is necessary for XRP to record a bullish resurgence in the future. Analysts see this bullish resurgence as a prerequisite for astronomical gains.

EGRAG suggested that XRP could break out of the downtrend once this up campaign begins. trend line It broke through multiple resistance points, one of which is the all-time high at $3.31. According to his chart data, this price level coincides with the Fibonacci 1 zone.

10,000% upside potential

He argued that XRP will eventually break through this pivotal price level and the next counter price will be $8.34, potentially pushing it to a new all-time high. According to analyst charts, after breaking this resistance, XRP could reach an ambitious $26.9 with a massive 10,000% rise.

– Advertisement –

This price represents one of XRP's most ambitious goals, and EGRAG has continued to defend the theory that XRP will one day reach it. Meanwhile, XRP has not been able to capitalize on recent market gains as efficiently as market participants had hoped.

meanwhile Bitcoin (BTC) recently reached the psychological price area of ​​$50,000 for the first time since December 2021, surging to a 26-month high of $50,368 yesterday, while XRP could regain the $0.54 price range. I could not do it. The asset soared to $0.5380 and witnessed depletion.

Currently, XRP continues to give up yesterday's small gains and is down 0.38% today. change Hand is $0.5295. but, trade volume Amid a flood of market participants, it increased by 34.7% in the past 24 hours, surpassing $1 billion and now worth $1,013,051,855.

Nevertheless, XRP's persistent woes have not affected EGRAG's optimism. In his last analysis, he asked investors to decide whether they wanted to miss out on a 40% drop or a potential 10,000% rise. His stance remains unchanged despite the bearish market.