Analyst Predicts $66 XRP Price Based on Three Historical Impulsive Waves
The post Analyst Predicts $66 XRP Price Based on Three Historical Impulsive Waves appeared on BitcoinEthereumNews.com.
EGRAG CRYPTO, a notable analyst, has introduced an analytical framework to forecast potential price targets for XRP, based on historical price trends and market liquidity. By dividing previous peak values in half, the analysis suggests potential price targets of $1.96, $15, and $66, applying methodologies from 2017 price movements. Amid the ongoing uncertainty in the Ripple vs. SEC lawsuit, native cryptocurrency XRP has been flirting around $0.52 levels with a market cap of $29 billion. While the selling pressure hovers over XRP, its daily trading volumes have skyrocketed by a staggering 103% shooting past $2.2 billion, as reported by Crypto News Flash. However, the current selling pressure hasn’t stopped investors from taking bold bets on XRP. EGRAG CRYPTO (@egrahcrypto), a prominent analyst, recently unveiled an analytical approach outlining potential price targets for XRP. This strategy primarily relies on historical price trends and overall market liquidity, disregarding factors such as utility, DeFi, and Automated Market Makers (AMMs). EGRAG CRYPTO’s methodology dissects past price surges into distinct periods, particularly those witnessed in 2017 and 2021. Notably, he divides the peak values of these periods in half, aiming to ascertain potential price targets for XRP in the current market cycle while maintaining a cautious outlook. The analysis assumes that current demand levels will remain consistent and does not take into account potential impacts from factors such as utility, integration into decentralized finance (DeFi), or other emerging trends within the XRP ecosystem. Applying this approach to XRP’s price movements in 2017, characterized by three significant waves, EGRAG CRYPTO identifies three potential price targets: $1.96, $15, and $66. These targets are determined by halving the peak values attained during each segmented surge within the 2017 cycle. Applying a similar methodology, EGRAG CRYPTO examines the XRP price surges observed in 2021. By halving the peak values…
Filed under: News - @ May 24, 2024 5:24 pm