XRP Poised for 58x Rally to $30, Mirroring Ethereum Past Performance

XRP could be on the verge of surging by as much as 58x from its current value, according to crypto analyst EGRAG, who drew parallels with a past performance from Ethereum (ETH).

#XRP 58X? Nahhhhhhhhhhhh, you're Delusional:

Allow me to share some insight: In the previous cycle, #ETH achieved a 58X growth despite the controversies surrounding it.
#XRP is poised to make a significant 58X leap, and this marks just the beginning. With legal clarity now in… pic.twitter.com/dlWAhlEjtK

— EGRAG CRYPTO (@egragcrypto) October 5, 2023

Ethereum achieved a staggering 58x growth in the previous cycle despite its controversies and challenges. Now, EGRAG suggests that XRP is on a similar trajectory, with the added benefit of newfound legal clarity, making its potential even more compelling.

The analyst stressed that some XRP community members have begun mocking other XRP enthusiasts who believe in lofty price targets such as this. This reality showcases the diverse perspectives within the XRP community.

Ethereum Rapid Surge

EGRAG presented a chart showing Ethereum’s remarkable journey to support his claim. In January 2018, Ethereum experienced a significant correction, plummeting from its high of $1,420 to a mere $80.9 by December 2018.

However, this marked the beginning of Ethereum’s resurgence. According to the above chart, Ethereum’s price surged by a jaw-dropping 5,815% (58X) from its low of $80.9, eventually reaching the impressive $4,700 price range in November 2021. 

XRP’s Potential

The crypto analyst believes that XRP has the potential to replicate the impressive resurgence of ETH. Currently trading at $0.5215, XRP has already established itself as a prominent digital asset.

If it mirrors Ethereum’s previous performance and undergoes a 58x rally from its current position, XRP could surge to an astonishing $30.2. This is nearly ten times its recent all-time high value.

It’s worth noting that XRP also has a history of significant price surges. In January 2017, XRP was worth a mere $0.003, but it reached an all-time high value of $3.317 in just one year. This represented a 110,466% increase or a 1,104x surge.

These past achievements are undoubtedly impressive, but it’s important to remember that past performances do not guarantee future results.

While the crypto landscape has changed, and legal clarity has been achieved for XRP, the journey to a projected 58x rally may not be without its hurdles. Cryptocurrencies are mainly volatile, and investors should remain cautious.