Can XRP Price Reach $50? Crypto Analyst Predicts Massive Move.
XRP went through a consolidation period in the last week of November, but fundamentals and price action show the crypto is primed for a breakout.
According to a prominent crypto analyst, XRP is in the perfect position based on its previous price action for an epic rally that could send the price up to $10 or even $50.
Crypto Analyst EGRAG Predicts Major XRP Price Rally To $10 Or $50.
Fasten your seatbelts because according to one of the crypto industry's top analysts, we could see XRP shoot past its all-time high. Crypto analyst EGRAG made this prediction on social media by looking at past actions on the XRP price chart on the monthly timeframe to emphasize the importance of candle formations.
XRP has been on a rollercoaster ride since it received some sort of regulatory clarity in the US after Ripple's partial victory in court against the SEC in July. The crypto went on a few price spikes, became listed on many US-based crypto exchanges, and has maintained steady price increases since July.
Amidst all these, data from XRP's price
action shows that the crypto has recently
formed green candles on the monthly
frame. According to EGRAG crypto, this
has only happened twice in XRP's history,
with the crypto going on a strong price
spike in both cases. If history is any
indication, we could see two different
scenarios play out from here.
In the first scenario, XRP could mirror its
action in 2016. Interestingly, the crypto went on a consolidation for 12 months after the formation of three bullish candles before going on an 8000% to $0.40562. If this repeats itself, we could see XRP go through a similar consolidation period before skyrocketing to $50 starting on November 1st, 2024.
In the second scenario, XRP went on a 5- month consolidation phase after the formation of three bullish candles. After this, the token went on a 1500% surge to reach its current all-time high of $3.026. A repeat of this scenario could see XRP surge to $10 starting from April 1st, 2024.
