Renowned cryptocurrency analyst Egrag Crypto unveiled his latest price projections in a recent X post for XRP, utilizing a novel approach that draws from historical market cycles. Egrag Crypto’s analysis has sparked considerable interest among the XRP community, with his predictions indicating significant potential price targets of $1.96, $2.8, $15, and $66.
Egrag Crypto’s methodology involves thoroughly examining past market pumps, segmenting them into sections, and halving the gains from previous cycles. This technique simulates potential future price movements while considering a worst-case scenario where current demand levels remain unchanged. Notably, this analysis intentionally excludes utility, decentralized finance (DeFi), automated market makers (AMM), and other potential market influences, focusing solely on general liquidity.
By dissecting the 2017 market cycle, the analyst identified three major impulsive waves. When the gains from these waves are halved, the projected price targets for XRP emerge as $1.96, $15, and $66. Applying the same method to the 2021 market cycle suggests a potential target of $2.8.
The analyst’s insights are grounded in a detailed chart that mimics previous cycle pumps, segmenting them and then halving the projected growth. This approach ensures that the analysis considers the most conservative scenario, assuming current market demand remains constant without factoring in additional elements such as utility and technological advancements.
The analyst also cautioned the XRP community about potential price volatility. He highlighted that a price range between $2.8 and $3.5 could prompt a significant sell-off. Approximately 70% of traders are likely to take profits at this level, potentially missing out on higher, double-digit price targets later in the cycle.
Since their inception, the analyst has drawn a parallel to the long-term investment success of holding major tech stocks like FANGMAN (Facebook, Amazon, Netflix, Google, Microsoft, Apple, and Nvidia). He emphasized that a steady holding strategy has historically outperformed various trading tactics, reinforcing the importance of patience and a long-term perspective.
As the cryptocurrency market continues to evolve, Egrag’s insights provide a unique perspective for investors navigating the dynamic landscape of XRP. The XRP community would undoubtedly watch closely to see if these predictions come to fruition, potentially validating Egrag Crypto’s analytical approach.
