Veteran Analyst Says XRP Going to $4

Renowned market watcher EGRAG has asserted that XRP is now riding on a path to potentially hit $4 in June or July at worst.

XRP has continued to struggle to put up a stellar performance, with its price lingering at half a dollar. The asset retested a two-year low of $0.43 about two weeks ago, although it has recovered significantly from the dip. Yet, its renowned struggle to sustain a bullish ride flashed again as XRP now stalls around $0.53.

Meanwhile, analyst EGRAG has reasons to believe XRP could surprise the crypto market within the next three months. In his latest update about XRP’s next target on X, EGRAG voiced the sentiment that XRP’s path to $4 is evident.

The analyst reached this conclusion after examining XRP’s current candlesticks, seeing similarities with the bullish trajectory established in 2021. “XRP [is] imitating 2021 move,” EGRAG proclaimed. He went on to outline two scenarios that could play out from this crucial observation.

#XRP Imitating 2021 – Move:

🔵 Blue Section: The current trajectory suggests a possible reach of $1.4 by June-July, a key target. The price range between ($1.2 – $1.8) is a plausible target.

🟡 Yellow Section: Aiming for $4 is feasible if we follow a similar path to 2021.… pic.twitter.com/BMUJSbb5GQ

— EGRAG CRYPTO (@egragcrypto) April 25, 2024

Likelihood of XRP Hitting $1.8

First, the analyst suggested that XRP is at a critical decision juncture, and one of two scenarios may surface. The accompanying graph depicted these two options as blue and yellow sections.

According to the analysis, XRP’s current trajectory suggests a likelihood of a surge that takes the asset to $1.4 by June or July, drawing on the section painted blue on his chart. 

Notably, the blue section implies the initial stages of XRP’s rally in 2021 before it peaked. EGRAG argued that where XRP mirrors this path, the plausible target by July would be in the range of $1.2 to $1.8.

With XRP trading at $0.5241, reaching $1.8 in the next three months demands a 243% price growth.

XRP Soaring 664% to $4 More Likely

Meanwhile, the yellow section on the chart accounts for the analyst’s most ambitious short-term target for XRP. Specifically, the yellow-painted area reflects XRP’s ultimate bull rally last cycle, when the asset soared to $1.96 by April 2021. 

According to EGRAG, $4 is feasible if XRP re-engineers this ultimate bullish trajectory instead. Moreover, he stressed the likelihood of this $4 target. He pointed out how the blue trend line corresponds with a yellowish fractal.

Considering that XRP is selling for $0.5241, EGRAG expects XRP to explode by 663% to hit $4 by June or July.

Notably, this latest bullish target that EGRAG issued updates to his earlier claims of XRP reaching an unprecedented $17 price by May. Interestingly, this analyst continues to maintain his $27 target for XRP in this bull market.