The post Analyst Sees XRP Hitting $1 to $500+, Here’s Timeline appeared on BitcoinEthereumNews.com.

Prominent crypto analyst EGRAG believes XRP could hit its peak for the current cycle in July 2024 or May 2025, with an ascending channel detailing prices between $1 and over $500. He based this analysis on XRP’s historical performance, assessing the duration between different market cycles and leveraging it to come to a conclusion. Notably, the latest analysis comes at a time when XRP is facing the impact of the ongoing market collapse, having slumped below the $0.50 zone. After reaching a high of $0.5571 on May 21, XRP continued to face downward pressure. This bearishness spilled into the new month, with XRP now down 7.61% on the monthly time frame. Despite this turbulence, analysts like EGRAG are confident that XRP will outperform the market like it did in 2017. XRP Previous Cycle Peaks EGRAG’s recent market analysis rests on this premise, as the veteran analyst projects timelines for when he believes XRP could spike to its peak value for this cycle. In his analysis, he presents two possible scenarios, each based on the duration from the previous cycle’s top. #XRP Time Frame: July 2024 or May 2025? 🚀 🔍 Simple Analysis: If #XRP follows the Blue Cycle, then July 2024 should mark the cycle top in terms of time frame (1186 days). 🗓️ 🌿 Green Cycle Alternative: If it follows the Green Cycle, then May 2025 will be our cycle top (1492… pic.twitter.com/s3uof2Chdl — EGRAG CRYPTO (@egragcrypto) June 10, 2024 One of these scenarios, dubbed the Blue Cycle, features the time XRP took to reach the peak of $1.96 in the 2021 cycle. Notably, XRP hit the $1.96 cycle top in April 2021, which took 39 months, or about 1,186 days, from the $3.31 peak it witnessed in the previous cycle in January 2018. The second scenario, dubbed the…

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Filed under: News - @ June 15, 2024 10:22 am