The popular cryptocurrency analyst using the X handle EGRAG CRYPTO believes Ripple’s native token has a chance to skyrocket to $1.40.
The asset needs to close above a certain level “with undeniable confirmation” for this to happen. In the following lines, we will take a closer look at the exact conditions.
XRP Has a Chance for a ‘Meteoric Rise’
EGRAG CRYPTO presented a chart depicting XRP’s current valuation and possible expansion should it enter a green bullish area. The analyst argued that if the token closes above the Fib 0.5 level at 0.57C “with undeniable confirmation,” the community can witness a spike to as high as $1.40.
Still, such a scenario won’t be possible should XRP remain in the “ranging” zone or plummet to a “wicking” and “red flag” territory.
#XRP Color Code To $1.4:
If #XRP triumphantly closes above the Fib 0.5 level at 0.57C with undeniable confirmation, we’re setting our sights on the $1.4!. This meteoric rise is just around the corner.
But remember, there’s more to this story! Dive into the color-coded clues… pic.twitter.com/DC0ss6Ip27
— EGRAG CRYPTO (@egragcrypto) September 21, 2023
Some of the Most Recent XRP Predictions
The aforementioned crypto analyst is not the only one envisioning a bright future for the coin. Shannon Thorp came up with a wild, to say the least, forecast last week, suggesting that XRP could blast above $500 in the next few years.
It is worth mentioning that the token’s market capitalization should surge to approximately $260 trillion for this to happen. In comparison, the entire market capitalization of the industry during the bull run in 2021 was hovering around $3 trillion, making the prediction sound ridiculous.
The technical analyst and educator Duo Nine also chipped in, saying the bulls will stay in charge of XRP as long as the latter’s price remains above $0.45. The asset is also poised to skyrocket to $3.30 should it move to $1.30, he concluded.
In the meantime, if you want to find out what ChatGPT thinks of XRP’s price performance during the next bull market, you can have a look at our video:
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
Credit: Source link