Analyst EGRAG Crypto confirms that XRP has continued to follow the 2018 Tesla price trajectory, awaiting an explosive surge following the recent pullback.
The market commentator first highlighted this possibility following Ripple CEO Brad Garlinghouse’s controversial 60 Minutes interview. For context, the meeting, which occurred last December, was published with some important omissions pertaining to XRP’s legal clarity.
Notably, Garlinghouse and the broader XRP community were not happy with this development, as it presented XRP in the light of an asset still battling with a security label despite Judge Analisa Torres resolving the issue in July 2023.
XRP Trailing TSLA After Ripple CEO’s 60 Minutes Interview
Interestingly, after the meeting aired on Dec. 8, 2024, XRP saw a mild pullback from $2.61 to a low of $1.96 the next day. EGRAG called attention to this pattern, stressing that Tesla stock (TSLA) witnessed a similar price action after Elon Musk appeared on 60 Minutes in 2018.
Specifically, Musk’s 60 Minutes interview aired in December 2018. Shortly after, TLSA stock collapsed considerably from $25.16 to a bottom of $11 sometime in June 2019. However, after this pullback, TSLA recovered, soaring by over 3,400% to a new peak.
EGRAG suggested that XRP would take a similar path. Since Garlinghouse’s 60 Minutes interview, XRP has struggled to maintain its footing. Interestingly, amid this bearish pressure, XRP’s price collapsed to $1.61 by April 7. This marked a nearly 40% drop from the $2.61 price when the 60 Minutes interview aired.
XRP Already Down Like Tesla, EGRAG Expects Massive Recovery
In his latest analysis, EGRAG confirmed that XRP has already observed the sort of collapse Tesla witnessed. According to him, it took Tesla six months to hit the bottom and another six months to recover fully to new highs.
The analyst pointed out that despite XRP already observing the Tesla-like collapse, many still doubt that it would record an uptrend similar to the one Tesla witnessed. For context, if XRP rallies 30x from the April 2025 floor of $1.61, this would push its price to a new peak of $48.3 by November 2021.
Meanwhile, a more modest growth of 10x would lead to a value of $16.1, still representing a new all-time high. For the 20x uptick, XRP would reach a price of $32. EGRAG called for patience, insisting that the market will soon see massive multipliers. Interestingly, analyst CrediBULL also predicts XRP to claim the $32 price.
Currently, XRP changes hands at $2.18, having recovered from a drop to retest the $2 mark two days back. The asset trades flat this month, caught in a consolidation since March. In a previous analysis, EGRAG suggested that XRP recovering the $2.65 level would mark the final go-go signal for a price explosion.
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