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Bullish predictions for XRP price are back, even with the bulls struggle to push crypto on a surge in prices. EGRAG, a cryptocurrency expert, made one such positive prediction that there will be a price surge of considerable magnitude. According to the analyst's recent social media post, XRP may reach the $4 price level in the long term.
Crypto Analyst Predicts 700% Bullish XRP Price Action
The value of XRP has seen a slight decline over the past few days as the entire crypto market consolidates in price action. The price action of XRP this year has largely disappointed many of its ardent enthusiasts, especially since it is not yet reached the $1 mark as many analysts predict.
Coinmarketcap data now shows XRP finds himself bouncing priced at $0.51 after retesting the price of $0.435 on April 13. However, according to EGRAG, this is about to change soon.
EGRAG, known for its very bullish stance on XRP, recently noted in its analysis that XRP's current price movement mimics the 2021 move that saw it hit $1.8. According to its analysis, EGRAG has divided the price outlook into two blue and yellow sections, each representing mirror images of price action in 2021.
#XRP Imitate 2021 – Moving:
🔵 Blue section: Current trajectory suggests possible reach to $1.4 by June-July, a key target. The price range between $1.2 and $1.8 is a plausible target.
🟡 Yellow section: Aiming for $4 is achievable if we follow a similar path through 2021.… pic.twitter.com/BMUJSbb5GQ
– EGRAG CRYPTO (@egragcrypto) April 25, 2024
Rather, the blue section represents a narrow price trajectory, suggesting that XRP could reach $1.4 by June or July, with a price range between $1.2 and $1.8. Meanwhile, the yellow section represents a more bullish price trajectory. According to the analyst, XRP could reach the $4 price level by June or July if it follows the yellow section of the 2021 move. Interestingly, a rise up to the $4 price level $4 would put the price of XRP at a new all-time high.
What’s next for XRP?
EGRAG is one of many crypto analysts who are still bullish on XRP price trajectory. Her long term price projection for XRP is $27, which he says is still viable. At the time of writing, XRP is trading at $0.5148, down 16.8% over the past 30 days.
This means that to reach $4 in July, bulls will need to push the crypto on a 677% increase in less than three months. Although the volatile nature of cryptocurrencies suggests that this price rally is possible, current market dynamics point to modest price gains for XRP at best.
On the other hand, on-chain metrics revealed that bullish sentiment could return to XRP. Notably, the number of XRP wallets containing at least 1 million coins has increased recently, which could be a sign of an upcoming price surge.
XRP at $0.51 | Source: XRPUSDT on Tradingview.com
Featured image from Coinpedia, chart from Tradingview.com
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