Expert Projects XRP Breakout Between July and Dec, Forecasts 31x Surge to $15

XRP could be gearing up for a breakout between July and December, with a potential rally that could skyrocket the asset by 3,100% to a $15 price.

Renowned analyst and chartist, Egrag recently provided an update on the projected timeframe for an XRP breakout. In his latest analysis, Egrag suggests a potential breakout between July and December.

The latest analysis builds upon his previous post on June 2, where he explains the concept in detail. Egrag had introduced the concept of the XRP Bent Fork at the time, forecasting a possible rally to $15.

Most recently, the analyst’s meticulous examination of XRP’s micro behavior within the Bent Fork revealed compelling data indicating an imminent breakout. His initial projected timeframe for a breakout stands at July 24 or Sept. 25.

#XRP Bent Fork ( 24th of July or 25th Of Sep):

For a detailed explanation, please check my previous post on June 14th, 2023 [link: https://t.co/PLSEEojrGe].

? #XRP's micro behavior within the Bent Fork is revealing compelling data indicating a potential break-out on either the… pic.twitter.com/4tWD8dSiuW

— EGRAG CRYPTO (@egragcrypto) June 29, 2023

However, Egrag acknowledges that projecting these timelines with accuracy has been challenging. He emphasized that uncertainties exist. To account for this, Egrag has set a broad window for the breakout between July 2023 and December 2023, focusing narrowly on September to November.

The XRP community awaits this breakout, as it could trigger a significant rally in the asset’s price. If Egrag’s projections come to fruition, investors might witness an XRP rally to $15. At current prices, XRP would need to surge by 3,105% to hit $15.

Initial XRP Analysis

During Egrag’s initial analysis on June 2, he introduced the concept of “The Bent Fork.” The analyst identified the Fork as an XRP roadmap. 

#XRP: The Bent Fork (15$ & Historical Support)

Introducing the intriguing journey of #XRP, symbolized by "The Bent Fork," a roadmap with four distinct tracks:

Track A) Major Historical Support
Track B) Ranging Zone
Track C) Mid-Cycle Top
Track D) Cycle Top

Observing the… pic.twitter.com/r5XRVC0a8T

— EGRAG CRYPTO (@egragcrypto) June 2, 2023

According to him, this roadmap consists of four different tracks: Major Historical Support, Ranging Zone, Mid-Cycle Top, and Cycle Top. 

Following a keen observation of prevailing market conditions, Egrag identified that current market trends suggest that XRP’s journey aligns with the Cycle Top. The analyst noted that this direction would potentially result in a $15 price for XRP.

Egrag pointed out a Red Falling Wedge that XRP has continued to trade within since 2021. He stressed that the asset could embark on an explosive rally if it breaks out of the Falling Wedge with determination.

However, until this breakout transpires, XRP may continue to consolidate or drop to lower prices. Egrag encourages investors not to be disheartened by these movements but rather to see them as favorable buy opportunities.

Nonetheless, market participants should note that this does not represent investment advice, as market fluctuations can be unpredictable. Investors should consult with financial professionals before making any investment decisions.

Meanwhile, XRP has continued to drop to lower levels, as earlier forecasted by Egrag. XRP is trading for $0.4680, down 2.52% over the last 24 hours. Egrag noted that if XRP loses the $0.45 to $0.47 territory, it could plummet to the zone between $0.35 and $0.37.