Prominent crypto analyst EGRAG has expressed unwavering confidence in XRP outperforming Bitcoin and reaching lofty heights such as $7 this bull season.
In a recent post on X, EGRAG called attention to his unwavering conviction that the price of XRP relative to Bitcoin would reach an unprecedented all-time high.
While the XRP/BTC chart currently has a price of 0.00001068, the analyst maintains that it could reach 0.000137.
#XRP / #BTC Valhalla or Helheim – UPDATE (My Unwavering Target 0.000137) 🎯
Check out the post from December 2023: https://t.co/c8LTpj8H7H
Sometimes, I Hate My Self💔:
Sometimes, I can't help but feel frustrated with myself for foreseeing the worst-case scenario, only to see… pic.twitter.com/7zfZXO5E85— EGRAG CRYPTO (@egragcrypto) February 21, 2024
XRP Outperforming Bitcoin
Given the current XRP/BTC rate of 0.00001068, alongside XRP’s value at $0.5449 and BTC at $51,100, EGRAG’s target of 0.000137 suggests an XRP value of $7. This price target suggests that BTC could remain around the $50k range while XRP rallies 1,184% to $7.
The analyst’s recent update builds upon earlier assessments where he outlined negative and positive scenarios for XRP in the event of Bitcoin reclaiming the $50k territory.
However, in his latest update, he blamed himself for foreseeing worst-case scenarios that ultimately unfolded.
Meanwhile, the analyst voiced confidence that XRP is mirroring the pattern it followed in 2017. Historical data indicated that during late 2017 and early 2018, XRP underwent remarkable growth, surpassing Bitcoin by a significant margin.
Specifically, XRP surged by 1,550% within five weeks from $0.2326 to an unprecedented peak of $3.84 in January 2018. In contrast, Bitcoin only experienced a 40% increase, rising from approximately $10,000 to $14,000 during the same timeframe.
While the analyst anticipates XRP replicating a similar surge soon, he also acknowledges the potential for a temporary bump followed by another significant decline. However, he believes this could pave the way for the commencement of the ultimate bullish rally.
Furthermore, EGRAG offered encouragement to XRP holders amidst repeated bullish forecasts that have yet to materialize. He remarked:
“XRP Army, I know it’s a dredging road, but the end will be glorious. Keep the faith.”
Besides, a crypto market participant asked EGRAG about his optimistic price prediction for XRP during this cycle’s blow-off top. He responded that $27 is feasible.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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