A crypto analyst has revealed a deadline for XRP, the native token of the XRP (XRPL) ratio to witness a substantial recovery of 102,590%. If this price increase occurs, the current modest value It could skyrocket to a staggering $500 during this bull cycle, albeit under certain conditions.
Analyst predicts XRP to rise by 102,590%
In an X (formerly Twitter) publishOn June 10, a crypto analyst identified as ‘Egrag Crypto’ shared a detailed price chart showing when XRP will reach new all-time highs this bull cycle. The analyst projected a surprising price rise for XRP, revealing that the cryptocurrency could witness a 102,590% increase to a price peak of $500.
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In its price chart, Egrag Crypto revealed that XRP could see a gradual price increase towards $500. It identified several price targets Using different trend lines highlighting a potential price increase to $6, $20, 60, $180 and then a high of $500.
The analyst also revealed a slight problem with his ambitious price prediction. From his analysis, he revealed two big ones. timelines for XRP to reach its predicted target price, emphasizing the possibility of the cryptocurrency following two distinct cycles – the Blue Cycle and the Green Cycle.
Egrag Crypto has indicated that if XRP follows the Blue Cycle, then it could witness a price increase until the top of its cycle in July 2024. The Blue Cycle represents the 39-month period (1,186 days) during which XRP rose to the cycle top of $1.96. in April 2021, following its all-time high of $3.84 in January 2018.
In contrast, if XRP follows the Green Cycle, its price could potentially witness a leak to the cycle peak of $500 in May 2025. In this case, the Green Cycle refers to the 49 months (1,492 days) between the December 2013 peak of $0.0614 and XRP’s all-time high in January 2018.
Egrag Crypto based its predictions on the patterns generated from XRP Price Movements in different price cycles over the previous years. He revealed that the duration XRP Rises to $500 was measured from top to top of the cycle, using this approach to determine their ambitious price target for the cryptocurrency.
Moment suppressed by the SEC?
Crypto analyst, Levi Rietveld indicated in a X post that XRP’s momentum has been suppressed by the United States Securities and Exchange Commission (SEC) for a long time. The analyst refers XRP’s Ongoing Legal Battle with the SEC, which began in late 2020 when the regulator took legal action against Ripple, alleging that the crypto payments company was selling XRP in an unregistered security offering.
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Despite Ripple’s partial victory after Judge Analyzes Torres decided that programmatic sales of XRP were not considered securities, the price of the cryptocurrency continues on a downward trend. Since the beginning of the year, the value of XRP has stagnated while other altcoins on the market have risen considerably. With the process still ongoing, XRP Price it still maintains slow momentum, trading below $1 for years.
At the time of writing, the price of XRP was $0.49, reflecting a drop of 1.29%. decline in the last seven days, according to CoinMarketCap. Crypto Analyst, Egrag Crypto too confirmed that the results of the SEC’s lawsuit against Ripple will be a determining factor in their $500 bullish price target for XRP. He urged the XRP Army remain patient and prepare for July 2024 or May 2025, highlighting that these important dates could change the lives of XRP investors.
Featured image created with Dall.E, chart from Tradingview.com