According to market analyst EGRAG, XRP could make an impressive 888% surge to $31 if the coin manages to recapture previous all-time highs. This prediction is based on a recurring pattern that is similar to XRP’s price movements in 2017.
Repetition of a historical pattern
In its latest analysis, EGRAG points out a specific recurring pattern on the monthly XRP chart. This pattern bears strong similarities to XRP’s price movements in 2017, when the coin touched a rising support line four times before starting its historic bull run. XRP recently touched the same support line again, which could lead to another explosive price rise, according to EGRAG.
EGRAG states that if the market meets certain conditions, the bulls could gather enough strength to push XRP to a price of $31. Remarkably, this price level coincides with a major Fibonacci extension level.
The $31 Goal: What Does It Take?
According to EGRAG, the key to bigger gains lies in breaking the all-time high of $3.31, which XRP reached during the 2017/2018 cycle. During that period, XRP rose from a low of $0.003 in January 2017 to a high of $3.31 in January 2018.
EGRAG believes that, if XRP manages to reach this $3.31 level again, a relatively modest 20% of the 4,500% rally that followed the 2017 bull run could be enough to spark another surge.
This would bring the price in line with the Fib 1,618 level, with a first major target at $6.50 based on the peak reached in 2021. Ultimately, XRP could then rise to the ultimate target of $31.
Source: https://newsbit.nl/crypto-analist-voorspelt-mogelijke-xrp-stijging-van-888-naar-31/
