Despite the sweeping bearish sentiment surrounding XRP, Egrag, a well-known crypto analyst, has made bold bullish predictions about the asset’s future.
He suggests that XRP could experience a massive price surge of either 2,700%, pushing its value to $45, or 1,050%, bringing it to $19. These projections are based on historical data and technical analyses of XRP’s performance across previous market cycles.
“Charts Don’t Lie”
Egrag emphasized the power of historical patterns in forecasting future trends, stating, “Men lie, women lie, but charts don’t!” He pointed to XRP’s previous cycles, noting that the asset could replicate historical market behavior that led to explosive price growth.
Specifically, Egrag highlighted technical indicators such as the 21 EMA (Exponential Moving Average) and the 33 MA (Moving Average).
According to his analysis, the last two major XRP rallies (in 2017 and 2021) were preceded by bearish crossovers of these indicators. Then, price consolidation followed, and significant breakouts occurred after about 770 days.
In 2017, XRP surged 2,772%, reaching $3.25. Then, in 2021, it gained 1,052%, climbing to around $1.81, according to Egrag’s chart. These moves occurred after consolidation periods of 777 days (from the 2018 peak) and 770 days (from the 2021 cycle top), respectively.
Based on these historical movements, Egrag believes XRP may now be entering another “blow-off top” phase of a new bullish cycle. This cycle started taking shape in late 2024, when XRP’s value increased nearly sixfold.
Egrag and other bullish commentators suggest this rally could continue, potentially culminating in a dramatic price spike similar to previous cycles. If history repeats, a 2,700% increase could bring XRP to $45, while a more conservative 1,050% surge could send it to $19.
Strategy to Employ on the Journey
While one of Egrag’s ultimate targets remains around $27, he urges caution. The analyst recommends a Dollar-Cost Averaging (DCA) approach to mitigate risk and gradually build a position in XRP. Similarly, he advises taking profits using the same measured strategy of selling at strategic levels rather than all at once.
Caution for XRP Enthusiasts
Despite Egrag’s optimism, not all analysts share the bullish outlook. Market watcher Koroush AK warns that this is not the time to be bullish on XRP. He believes it’s time to short the asset. The pundit points to increasing bearish momentum and predicts a possible drop to $1.30.
Other prominent voices echo this sentiment. Analyst Cole Garner strongly advocates for shorting XRP, while trader Crashius Clay argues that XRP is significantly overvalued with limited support and weakening retail demand. Notably, Clay has disclosed a short position of $1 million on the asset.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
