Analyst Predicts XRP Price Could Reach $30
Crypto analyst Egrag Crypto has made a bold prediction for the price of XRP, stating that it could reach close to $30 at its peak. This is not the first time the analyst has made predictions about XRP’s price, as they have previously forecasted prices of $1.5 and $2 for the altcoin.
Elliott Wave Theory and XRP Price
Egrag Crypto used the Elliott Wave Theory to support their prediction. According to this theory, the third wave is considered a game-changer and often eclipses previous waves. Positive news and a price rally typically overshadow any initial bad news during this wave, leading to only minor corrections.
The third wave usually extends Wave 1 by a ratio of approximately 1.618, indicating significant potential for a surge in XRP’s price. Egrag predicts that XRP will hit the Fib 1.618 mark at $6.5 before experiencing a temporary correction.
The fifth wave, which is the final push in this theory, is expected to be the largest in terms of how high the XRP price will soar. Egrag believes that XRP will reach a minimum of $27, with the potential to go even higher.
Predicted Timeline for XRP Price
Egrag shared a chart showing the performance of XRP’s price over the years. According to the chart, the top of the third wave is expected to be reached around $6.5 in 2024, with the rally likely starting in 2023.
After the third wave, there is a dip to around $1.5, which represents the fourth wave. The final rally, known as the fifth wave, is expected to reach $27 and is predicted to occur between 2025 and 2026.
Hot Take: Investing in XRP
Given the expectation for XRP’s price to reach such high levels in the next two years, Egrag suggests that investing in XRP below $0.50 may be a wise move for future generations.
Bitro Conwell stands as an intellectual architect, weaving together the roles of crypto analyst, meticulous researcher, and editorial virtuoso with finesse. Amidst the digital intricacies of cryptocurrencies, Bitro’s insights resonate harmoniously with seekers of all stripes, showcasing a profound understanding. His ability to untangle the most complex threads within the crypto landscape seamlessly pairs his their editorial finesse, transforming intricacy into an artful tapestry of comprehension.