The Cryptomarkt is in full swing, and XRP seems to be preparing for a spectacular rise rise. Analysts point to a crucial phase in which the coin is located, with price goals that vary from $ 27 to even $ 222. Is this realistic or a too optimistic prediction?
XRP in the ‘Cange Pasthoehoehoe.
According to analyst Egrag, XRP is in what he calls the “Kangaroo Phase”, a period of consolidation in which the course fluctuates before a large outbreak follows. An important signal for this is that XRP is strong above a crucial support line.
In addition, De Munt has successfully re -tested the Bull Market Support Band, a movement that often precedes a sturdy upward trend. XRP also moves above the Fibonacci 0.888 level, which often serves as a launch platform for large price increases. This level is around $ 2.30 and with a current rate of around $ 2.51, XRP seems to be in a favorable position.
In addition to these support points, XRP is in a broader consolidation zone around the Fibonacci 1.0 level, between $ 2.30 and $ 3.37. Within this band, the price fluctuates between $ 2.00 and $ 3.40, an area that Egrag describes as “noise”. Only when XRP breaks out, a clearer direction is created.
Price goals between $ 8.50 and $ 222
Egrag bases his predictions on Fibonacci extensions. The next large price targets are between $ 8.50 and $ 13, based on the 1,272 and 1,414 levels. But the potential is bigger.
If XRP reaches the Fibonacci 1,618 extension, the price can exceed $ 27. This also happened in 2017, followed by a consolidation phase and later a parabolic increase towards the Fibonacci 2,236 extension. If history is repeated, XRP could rise to a level between $ 27 and $ 222. Yet the past offers no guarantee for the future, and the chance that this scenario will repeat itself exactly remains small.
People mainly doubt such high price goals because of the market capitalization of XRP. At a price of $ 27, XRP would be worth almost as much as Bitcoin (BTC). However, according to Egrag, the traditional Market CAP model is not sufficient for cryptocurrencies with a strong use case such as XRP.
The coming days are decisive. If XRP manages to recapture the VWAP tires, the road is open for a further increase. With a current race around $ 2.51, the currency remains within the consolidation zone for the time being. However, as soon as an outbreak follows, it can go fast.
At the time of writing we can record an XRP rate of $ 2.55, an increase of 2.81% in the last 24 hours.
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Source: https://newsbit.nl/gaat-xrp-naar-222-analist-gelooft-in-ongekende-prijsstijging/
