After a brief correction, optimism in the crypto market is quickly recovering, and according to analysts, XRP is on the eve of a major price movement.
Well-known analyst EGRAG predicts that the XRP price will first rise to $6 before it can even reach a level of $27 in the long term. This ambitious forecast is based on the so-called Bifrost Bridge analysis, which provides insight into the potential of the altcoin.
XRP price remains bullish despite slight decline
At the time of writing, the XRP price stands at $2.32. Although the price is down 2% in the last 24 hours, overall market sentiment remains positive. On December 10, the XRP price crashed to below $2, after which the coin quickly recovered by 20%. Analysts expect this upward trend to continue for the rest of December.
Price target of $6 achievable within weeks
EGRAG predicts that XRP could reach $6 this month, which represents a 150% increase from the current price. This would mark a new all-time high, as the current record of $3.40 was set in 2018. At a price of $6, XRP’s total market cap would be an estimated $338 billion.
Explosive rally expected in January
According to EGRAG, a parabolic rally for XRP will begin in January. The analyst predicts a further price increase of 1,330%, which would bring the price to $27.3. This would push XRP’s market cap past $1.5 trillion, almost equal to the current value of the entire altcoin market. While this ambitious goal may not seem realistic, the analysis shows that analysts remain highly optimistic about XRP and the altcoin’s growth potential in the coming months.
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Source: https://newsbit.nl/crypto-analist-voorspelt-xrp-koers-gaat-binnen-enkele-weken-naar-6-stijgen/
