According to a market analyst, #XRP may experience two notable price surges in the future, potentially driving its value to $150.
The analyst, known as EGRAG, conducted an analysis comparing past cycles of XRP, particularly looking at the 3-month chart data.
Past XRP Surges:
EGRAG began examining previous cycle (Cycle 1) that occurred between 2013 and 2017. During this period, XRP witnessed two significant price surges.
The initial surge saw XRP's value increase by a remarkable 910%, ending 2013 at $0.0274. Throughout this time, XRP formed a symmetrical triangle pattern, which lasted until the first quarter of 2017. In Q1 2017, XRP decisively broke out of this pattern, reaching $0.2486 by the end of the quarter.
Following the breakout in Q1 2017, XRP continued to climb steadily. In Q4 2017, it experienced its second remarkable rally, surging by 770%. This rally propelled XRP to unprecedented heights, closing the year at $1.9900.
Expected Recurrence:
Based on the analysis, EGRAG suggests the possibility of a bullish breakout for XRP in the future. He hints at a potential 2000% surge in the initial significant rally, which could drive XRP price to $15. However, he has an even more ambitious target of XRP reaching $150 or even higher, similar to the rally seen in 2017.
EGRAG envisions a scenario where a major bank, such as Bank of America, adopts XRP for cross-border transactions, potentially triggering a surge in XRP's value. This adoption could serve as a catalyst, driving increased demand for XRP.
As of now, XRP is trading at $0.5026, experiencing a slight decline in the past 24 hours. Since September 4, it has maintained stability above $0.49.
Adoption by major banks like Bank of America could potentially drive XRP's value higher.
However, it is advisable for investors to conduct their own research and take these predictions with caution before making any investment decisions.
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