Crypto analyst Egrag Crypto has shared predictions on how far the XRP price might climb after surpassing the $1 mark.
Following its surge past $1, cryptocurrency analyst Egrag Crypto has offered predictions about how far the price of XRP may reach.
With its surge above $1, XRP reached a two-year high for the cryptocurrency, which had previously stagnated despite the larger crypto market’s notable increases.
After Breaking Above $1, XRP Crypto Price Will Rise To $4
Egrag Crypto forecast in an X post that after the breakout above $1, the price of XRP might rise as high as $4.96.
He made this statement when examining XRP’s market capitalization and elucidating its potential to reach $1.83 trillion.
He pointed out that the market capitalization has touched Fib 0.786 ($60.06 billion) and is closing above Fib 0.07 ($51.35 billion).
Additionally, the analyst disclosed that XRP is breaching a multi-year upward trendline dating back to 2017.
This is quite positive for the cryptocurrency, he said. According to Egrag Crypto, the price of XRP would reach a confirmed market cap of $283.42 billion (Fib 1.618) if the monthly candle close was above Fib 0.786.
With a $283.42 billion market valuation, XRP would be worth $4.96.
Egrag Crypto stated that this week’s short-term objective is for XRP to close the partial weekly candle over $1.10.
A closure above this candle might further validate the climb to $4.96 and higher, according to his accompanying chart.
It is important to note that XRP whales are aggressively hoarding the coin amid this price projection, which suggests an optimistic view because these whales may potentially help sustain a price surge.
In the past 72 hours, these XRP whales have purchased over 320 million XRP.
Crypto expert Javon Mark, meanwhile, forecast in an X post that XRP will rise another $190% to its current all-time high (ATH).
He predicted that once the cryptocurrency hits its current ATH, it would break much above $3.3.
Rerun of Bull Run in 2017
Charting Guy, a cryptocurrency specialist, predicted that XRP price would repeat its 2017 surge. “The XRP monthly Bollinger bands are finally expanding and giving the 2017 vibes,” the analyst wrote in an X post.
After a rally of more than 61,000% in 2017, the cryptocurrency reached its current all-time high the following year.
Additionally, cryptocurrency expert Mikybull Crypto said that XRP price would repeat its bull run in 2021.
“My instinct as a technical analyst told me that XRP would pull a hated rally like 2017,” he said.
His accompanying graphic indicates that when this infamous rally takes place, XRP may rise above $5.
One of the factors contributing to XRP’s recent surge, according to Ripple CEO Brad Garlinghouse, is Donald Trump’s impending pro-crypto policies.
Rumors that the US SEC Chair may step down soon have caused the cryptocurrency to rise more than 100% in the previous seven days, which gives XRP even more reason to be optimistic.
