The current cycle of XRP may bring its price within the range of $2.30 to $5.89, according to the predictions made by analyst Egrag Crypto on X this Friday. He outlined two main strategies that could be used to show how these targets could still be achieved, even in the worst-case scenario.
#XRP Worst Case Scenario ($2.3 – $5.89) 🚨
— EGRAG CRYPTO (@egragcrypto) October 4, 2024
🧐 I've been getting DMs asking about the worst case scenario for #XRP this cycle, so let's break it down!
Here's my rationale with two solid approaches:
Approach 1:👉 Back in December 2020, when the #SEC dropped the lawsuit, #XRP… pic.twitter.com/hXLVznXudl
SEC Appeal Impact
Egrag equates the ongoing SEC appeal to the events during the initial lawsuit in December 2020, when XRP’s price was massively affected. After the first setback, the XRP price bounced back, giving its investors ten times their initial investment. In this regard, he indicates that if the same pattern is to be followed once the appeal has been made, XRP could go as high as $5-$6. He also notes that breaking through the Fibonacci 1.618 level may send XRP to about $6.50.
XRP Breaks Key Resistance Line: A Potential Surge Ahead?The second approach looks at the relationship between Bitcoin price fluctuation and XRP. In the 2021 bull run, Bitcoin hit the $68,000 mark, and XRP reached $1.96, according to Egrag. He claims that in the 2024-2025 cycle, if Bitcoin is to break through to new all-time highs of $80,000 to $100,000, XRP might just do the same.
Potential Price Surge
If Bitcoin is to rise to $80,000, which is a 17.65% rise from its previous high, XRP may soar to $2.31. In a slightly more optimistic view, where Bitcoin rises to $100,000 (a 47.06% gain), XRP can increase to $2.88. Even using a worst-case scenario, these projections point to massive returns for XRP owners. As of press time, XRP is trading at $0.5234, showing a 0.27% rise over the last 24 hours.
Egrag calls on the XRP community to stay patient and hold firm. Despite labeling his predictions a “worst-case scenario,” he sees potential for XRP to grow in the upcoming cycle. He advises XRP holders to adjust their strategies based on these targets while staying alert to market movements. XRP investors are encouraged to remain steadfast as the market evolves.
